Mali has suspended artisanal gold mining permits for foreign companies following fatal accidents, aiming to strengthen state control and protect citizens. The decision is part of efforts to ensure compliance with a new mining code, as artisanal mining significantly contributes to the economy, supporting over 2 million people.

Mali has suspended permits for artisanal gold mining granted to foreign companies following a series of fatal accidents at mining sites. This decision seeks to enhance state control over the mining sector and ensure the safety of its citizens. The government has also initiated the seizure and nationalization of mining equipment. This move comes amid rising tensions between military authorities and mining companies regarding adherence to a revised mining code.

As one of Africa’s leading gold producers, Mali heavily relies on gold exports, accounting for over 80% of its total export revenues. Artisanal mining plays a crucial role in the economy, generating approximately 30 tons of gold annually and providing support to over 2 million residents. The suspension of permits is a significant step taken by the government to regulate and oversee the sector more effectively, in response to ongoing concerns regarding public safety and compliance.

In conclusion, Mali’s recent suspension of artisanal gold mining permits for foreign entities reflects a commitment to enhance safety and state oversight in the mining sector. With the gold export being vital to the national economy, the government aims to protect its citizens and better regulate practices in response to recent accidents.

Original Source: www.voiceofalexandria.com