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Mali Reviewing Mining Research, Exploration Licenses
Feb. 14, 2014 11:59AM PST
Precious Metals Investing
Reuters reported that Mali’s government has started reviewing mining research and exploration licenses signed by previous governments. The plan is to cancel the contracts of companies found not to be in compliance.
Reuters reported that Mali’s government has started reviewing mining research and exploration licenses signed by previous governments. The plan is to cancel the contracts of companies found not to be in compliance.
As quoted in the market news:
‘The objective is to clean up the mining sector,’ [Mines Minister Boubou] Cisse said in an interview.
A lot of licences have been distributed in a disorderly manner, without any respect of (our) mining code. It has created disputes, and many of them are in court today.’
Mali is Africa’s third-biggest gold producer behind South Africa and Ghana, with operations by major miners including AngloGold Ashanti, Randgold Resources, IAMGold and Endeavour.
Cisse said the review for now targets only research and exploration licences and not those for mines already in production.
