Mali’s junta has suspended gold mining permits for foreign nationals due to fatal accidents, halted new approvals, and seized unauthorized equipment. Expert warnings indicate local economic impacts and foreign investment deterrence, as safety issues persist in artisanal mining. Mali’s reliance on gold exports poses challenges amid a projected 23% decline in production for 2024.
The junta in Mali has announced a suspension of permits for small-scale gold mining by foreign nationals due to a series of fatal accidents at mining sites. This decision entails stopping the approval of new permits for foreign individuals, confiscating equipment from unauthorized locations, and dismissing local officials associated with incidents leading to fatalities.
Experts caution that these measures may adversely affect local economies and dissuade foreign investments, which are vital for the country’s development. Mali ranks as one of Africa’s prominent gold producers, with gold exports constituting a substantial 80% of its national revenue.
However, safety conditions in artisanal mines are critically lacking, as highlighted by recent mining collapses resulting in numerous deaths. The junta’s increased control over the mining industry has also created tensions with foreign companies, contributing to a significant 23% decline in gold production projected for the year 2024.
Consequently, these developments underscore the ongoing challenges in balancing safety with economic reliance on mining.
In summary, Mali’s junta has halted gold mining permits for foreign nationals in reaction to fatal accidents, impacting local economies and potentially discouraging foreign investments. With gold being a key revenue source, safety concerns and the junta’s firm stance on the mining sector could hinder production and cultivate disputes with foreign firms, complicating the nation’s economic landscape.
Original Source: www.firstpost.com
