Recent bold changes to Mali’s mining regulations aim to boost the West African country’s economy while empowering local communities. Mamadou Coulibaly, a seasoned lawyer at Satis Partners sheds light on these changes that have unfolded since the 2020 political shift.
Following the regime change and national dialogue, one key resolution was to enhance revenue generation for Malians from the lucrative gold and ore mining sector. To achieve this goal, Mali's mining code underwent significant adjustments, levelling the playing field for all stakeholders.
Previously, the mining code offered varied incentives for different operations. Now, as Coulibaly notes, the revised code standardises regulations. Notable changes include increased government participation in mining activities, a revised tax regime, and mandates for 90% of the workforce to comprise local employees. Importantly, Coulibaly emphasises that these shifts reflect an international trend, with other West African nations embracing similar principles for promoting local content.
Coulibaly encourages investors to explore opportunities in smelting, processing and refining enterprises, as extractives need to be refined before being exported. Additionally, he highlights the potential in training programs. As local workforce participation becomes mandatory, there's a growing demand for specific skills. These two areas, Coulibaly suggests, could provide interesting opportunities in the years ahead.
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