Mali’s government has revoked more than 90 mining exploration permits, including several held by subsidiaries of major international firms, after companies failed to meet new legal and reporting obligations, the Ministry of Mines announced on Wednesday.
According to the ministry, the cancellations affect local branches of Harmony Gold, IAMGOLD, Cora Gold, Birimian Gold, and Resolute Mining, among others. Officials said the decision followed a comprehensive compliance review conducted under the country’s new mining code, which introduced stricter standards for documentation and operational transparency.
“Permit holders were given ample time to align with the new legal requirements,” the ministry’s statement read. “However, widespread non-compliance left the government with no choice but to revoke these permits.” The decree, signed by Mines Minister Amadou Keita on October 13, applies to permits granted between 2015 and 2022, covering a range of resources including gold, iron ore, bauxite, uranium, and rare earths—all vital to Mali’s export earnings.
Mali joins several other African nations, such as Guinea, in tightening control over its extractive industries to curb speculation, eliminate dormant licenses, and reclaim strategic assets. Cora Gold said it had voluntarily relinquished the affected licenses two years ago, noting that the decision would have “no operational or financial impact.”
Other companies, including Harmony Gold and IAMGOLD, have not yet commented, leaving uncertainty about whether affected firms plan to appeal.
Analysts say the sweeping move underscores the military-led government’s push to assert greater control over natural resources as part of broader economic reforms. However, they warn that such abrupt regulatory actions risk dampening investor confidence in Mali’s mining sector, which has already been hit by security challenges and shifting policies.
Mining is a pillar of Mali’s economy, with gold accounting for more than 70 percent of export revenues. Yet, industrial output has lagged behind projections, and authorities now face the dual challenge of maintaining foreign investment while advancing national control.
The government has increasingly turned to Russian partnerships to support its mining and energy ambitions, signing a series of joint ventures and infrastructure deals, including plans for a state-run gold refinery in Bamako. While these alliances aim to boost self-sufficiency, they also signal a broader realignment of Mali’s economic strategy—one that could reshape the balance of power in the country’s lucrative mining industry.
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Source:Africa Publicity
