Mali’s government is in talks with gold miners over proposed changes to its mining law that could increase state and private Malian interests in new projects to 35% from 20% currently, Reuters reported Friday.
The country’s current mining law, passed in 2019, gives the state the right to 10% with the possibility of acquiring an additional 10% stake.
Barrick Gold (NYSE:GOLD) and B2Gold (NYSE:BTG), which are among the biggest producers and have been expanding output in Mali, reportedly are among a number of miners taking part in talks with the government, which seeks to keep more revenue from the sector.
The government holds 20% stakes in mining projects such as Barrick’s (GOLD) Loulo-Gounkoto and B2Gold’s (BTG) Fekola, which are forecast to produce 560K and 610K oz of gold; Hummingbird Resources (OTCPK:HUMRF) and Resolute Mining (OTCPK:RMGGF) also operate in Mali.
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