Mali has recovered roughly 1.2 billion dollars in outstanding payments from mining companies after a comprehensive sector-wide audit, according to Reuters. Officials said the recovered arrears mark one of the most significant financial corrections in Mali’s extractive industry in recent years, reflecting an intensified effort to strengthen fiscal governance across the sector.
The audit, which began in 2023 and was carried out by Inventus and Mozar, revealed substantial underpayments from operators, as highlighted by reports in the mining sector. Sources indicated that the findings prompted sweeping legislative reforms and the introduction of a new mining code aimed at improving state revenue. The updated framework raises royalty rates, increases the government’s minimum stake in projects, and removes long-standing stability clauses that previously limited fiscal adjustments.
Industry reports noted that companies audited under the exercise are expected to contribute an additional 586 billion CFA francs each year. Broader changes under the new code could lift annual state earnings from mining to more than 1 trillion CFA francs, positioning the sector as a stronger pillar of national revenue.
Several major operators, including B2Gold, Allied Gold, Resolute Mining and Endeavour Mining, have already migrated to the revised regime, according to sources familiar with the transition. A lengthy dispute with Barrick Gold was also concluded in November, clearing the way for the country’s largest producer to align with the new requirements.
The government’s aggressive recovery effort and regulatory overhaul underscore Mali’s determination to secure greater value from its mineral wealth, even as observers caution that higher fiscal pressure may influence future investment decisions.
