By:Indexbox

Mali is poised to receive a substantial boost to its economy, totaling 750 billion CFA francs ($1.2 billion) from the mining sector in the first quarter of the year. This significant development comes after a comprehensive restructuring of its mining operations. Finance Minister Alousseni Sanou delivered this promising update to parliament, expressing the nation's increased leverage in the sector following recent policy reforms. As part of the new mining code adopted in 2023, Mali's state revenue is expected to rise as the government and local groups have elevated their stakes in mining assets from 20% to 35%. Additionally, if gold prices surpass $1,500 per ounce, Mali will receive 7.5% of the sales, further enriching its coffers. This financial windfall will pave the way for Mali to counterbalance its trade and fiscal exigencies.