Mali has recovered $1.2 billion in unpaid taxes and royalties from mining companies after a 2023 audit revealed major payment gaps, according to Reuters. The audit led to a new mining code that raised royalties, increased state ownership, and removed long-term stability clauses. Auditors had flagged $500 million–$1 billion in irregularities, prompting disputes with several firms—including a two-year standoff with Barrick, Mali’s biggest gold producer, before a settlement in November. It’s unclear whether Barrick’s roughly $400 million payment is included in the recovered sum. Other operators, such as B2Gold, Allied Gold, Resolute, Endeavour, and lithium companies like Ganfeng and Kodal, have also settled arrears under the new rules. The government expects annual mining revenue to rise above $1.6 billion under the 2023 code.
Credit. DWAfrica
