BAMAKO, 10 Aug 2023 – Colonel Malick Diaw, President of Mali’s National Transitional Council (CNT), declared a landmark decision aimed at redirecting the benefits of the nation’s underground mineral wealth towards the broader populace. In a pivotal moment during the inaugural plenary session of an extraordinary meeting, CNT members collectively assessed and endorsed two pivotal bills focused on the mining sector, heralding a new era of equitable economic growth.
Nouveau code minier au Mali.
La part de l'état dans les sociétés minières passe de 10 à 35%.
France 24 ne diffusera jamais ça. Tout ce qui est bon pour le peuple d'Afrique est mauvais pour les dirigeants et les médias français.
Petit à petit l'oiseau fait son nid. pic.twitter.com/6zaU8S9QFT— Histoires d’Afrique ♤ (@Silboyofficiell) August 9, 2023
The approved legislation, encompassing the Mining Code and local content provisions, seeks to usher in a transformative phase in Mali’s economic landscape. The primary objective is to uplift living standards by fostering sustainable development, thereby rectifying historical imbalances in the contribution of mining to the nation’s economy.
A key highlight of the reformed Mining Code is the introduction of pioneering elements that promise to revamp the sector’s operation. These innovations include optimized royalty rates, a strategic approach to essential substances, and the elimination of exemptions that have previously hindered a fair distribution of mining revenues. These measures collectively aim to seamlessly integrate the mining sector into the broader economy, amplifying its socio-economic impact.
Highlighting the potential magnitude of this shift, the Minister of Economy and Finance foresees substantial economic reverberations. Notably, gold’s role as a revenue generator is poised to ascend, eventually representing a staggering 10% of Mali’s Gross Domestic Product (GDP). This surge in gold’s prominence augments expectations of robust economic expansion, reflecting the newfound synergy between mineral wealth and overall national growth.
Colonel Malick Diaw emphasized that the adoption of these pivotal laws marks a watershed moment in Mali’s trajectory. The mining sector, long seen as a bastion of concentrated wealth, is now poised to assume a central role in the socio-economic advancement of the nation. By channeling the benefits of mineral resources to the entirety of Mali’s population, the government aspires to bridge historical gaps and ensure that prosperity is shared by all.
This legislative milestone comes at a critical juncture for Mali, as the nation navigates a transitional phase. With the resolute backing of the National Transitional Council, the mining sector’s redefined purpose is set to amplify the nation’s resilience, drive inclusive growth, and create a more equitable and prosperous future for all African people in Mali.
As Mali embarks on this ambitious journey towards enhanced economic parity, global attention turns to the outcomes of these revolutionary mining laws. The nation stands poised to showcase how strategic legislative reforms can forge a pathway towards a more just and prosperous society.
