Mali Suspends Artisanal Gold Mining Licenses for Foreign Companies

Mali has suspended artisanal gold mining permits for foreign companies after several fatal accidents. This decision aims to enhance government control, protect citizens, and reflects ongoing tensions with mining companies regarding compliance.Mali’s economy heavily depends on gold, with artisanal mining supporting millions.

The government of Mali has enacted a suspension of licenses for artisanal gold mining, specifically targeting permits issued to foreign entities. This action is prompted by a series of deadly accidents occurring at mining sites, and it aims to enhance state oversight and safeguard the local populace through the confiscation and nationalization of mining equipment.

The suspension follows escalating tensions between foreign mining companies and military authorities concerning compliance with a newly established mining code. Mali, recognized as a significant gold producer in Africa, heavily relies on gold exports, which represent more than 80% of the nation’s overall export revenue.

In addition to its critical economic role, artisanal mining contributes approximately 30 tons of gold each year and sustains over 2 million citizens. Thus, the government’s decision underscores its commitment to enhancing safety and managing the impact of artisanal mining operations on the local communities.

Mali’s decision to suspend artisanal gold mining permits for foreign companies is a critical response to recent fatal accidents. This move aims to strengthen government control over mining practices, ensuring better safety standards and economic support for local communities. With gold exports comprising a significant portion of Mali’s economy, this suspension reflects the country’s priorities in balancing economic interests with citizen welfare.

Original Source: www.voiceofalexandria.com