12/12/2006 amendment (1)
Syama Mining Company (SOMISY)
2009 for 7 years
Underground operations to be extended until 2017
Société d’exploitation de la mine d’or de Sadiola (SEMOS SA)/
AngloGold Ashanti (41%)
1991 Mining Code
Gold Mining Company of Sadiola (SEMOS SA)
2014 for 10 years
This paper discusses Malian mining taxation. Mali’s industrial mining sector is predominantly gold mining, with six industrial mines currently active. Most of the mines are old, but some have substantial reserves; extensions are planned for the Syama, Morila, Kalama, Tabakoto-Segela, and Loulo-Gounkoto mines. The Fiscal Analysis for Resource Industries model was completed for five new projects with recent feasibility studies. The government revenue contributed by the five new projects is on the order of US$1.7 billion (constant dollars) over the next 10 years. The application of the 1999 or 2012 Mining Code increases the government’s share of income in comparison with the 1991 code.
and by place of residence (urban, rural). The low quality of public services and the cost of basic social infrastructure (education, health, safe drinking water, electricity), when combined with limited purchasing power, blocks the population’s access to the minimum package of services.
4. Optimizing financial resources
105. Good management of government finances:
both domestic government resources and
foreign aid provided to the Maliangovernment by its technical and financial partners in international public cooperation
is essential to
Mali’s territorial integrity is threatened, questioning its internal capacity to face challenges and especially to ensure the physical safety of goods and individuals. The government is committed to implement all measures to overcome this situation. More specifically, it will increase political and diplomatic actions for a quick and successful crisis outcome, maintain peace and security, revive economic activity, maintain social gains and target the poorest populations, fight against corruption and financial crime, and improve revenue mobilization to reduce dependence on aid.
This Selected Issues paper and Statistical Appendix briefly surveys the progress achieved by Mali in the area of economic adjustment in the decade since 1988. This is followed by a discussion of the principal areas where the Malian government is considering the implementation of new reforms in the period ahead. The paper analyzes the financial sector in Mali. It highlights that in the late 1980s, the financial sector, in particular the banking system, faced a major liquidity and solvency crisis characterized by a high level of nonperforming loans.