Mali produced 65 tons of gold in 2023 (EITI)
The 2023 report of the Extractive Industries Transparency Initiative (EITI) in Mali, published in June 2024, provides an in-depth analysis of the country’s extractive industry. As the third largest gold producer in Africa, Mali produced 65 tons of gold in 2023, valued at approximately US$2.07 billion (1.926 billion CFA francs). Most of this production comes from mining companies operating in the Kayes and Sikasso regions.
This figure is lower than in 2022, when the country produced 72.2 tons of gold, including 66.2 tons from industrial mines.
This decline can be explained by the suspension of the granting of mining licenses. The EITI report states that “as of December 31, 2022, Mali had one thousand sixty-two (1,062) mining titles, specifying that this situation did not change in 2023 due to the suspension of the granting of mining titles by the minister in charge of mines on November 28, 2022.”
“Based on the data declared by the State’s collection agencies, the revenues generated by the extractive sector (excluding subcontractors) for the year 2023 amounted to 644 billion CFA francs,” the EITI report states, specifying that 98 percent of these revenues, or 595.66 billion CFA francs, were collected by the treasury, representing 93.70 percent of the total.
39.25 billion CFA francs will be shared between the local government budget, the Vocational Training Support Fund, the National Youth Employment Fund, the National Housing Fund, UEMOA and ECOWAS.
According to the report, in 2023, mining companies invested 2.5 billion CFA francs in social projects aimed at improving the living conditions of local communities. These investments were mainly in health, education and infrastructure.
Transactions with local suppliers amounted to 856 billion CFA francs in 2023.
The EITI 2023 report also highlights several persistent transparency and governance challenges. For example, payment discrepancies were identified between the amounts declared by extractive companies and those collected by the government. Adjustments have been made for some taxes, but discrepancies remain, partly due to timing differences or undeclared payments.
With regard to gold exports, the report highlights major transparency concerns. For example, some companies were found to have exported gold without the General Directorate of Customs being able to confirm the nature of these transactions, raising questions about the traceability of exports.
However, the EITI Steering Committee notes that “the Malian state continues to be involved in the extractive sector, with a 10 percent free shareholding in mining companies and up to 20 percent with a cash contribution.”
The report also mentions several advanced stage mining projects, including IAMGOLD’s Diakha (Siribaya) project with estimated resources of over 1.5 million ounces of gold.
The EITI 2023 report recommends more rigorous implementation of previous recommendations. It highlights the need to establish an effective monitoring system with firm deadlines to improve governance and transparency in Mali’s extractive industry.
Source: https://apanews.net/