Mali Recovers 1.2 Billion in Unpaid Mining Taxes and Royalties

Mali Recovers 1.2 Billion in Unpaid Mining Taxes and Royalties after sweeping out in audit into different mining companies in the country.

The Government of Mali has successfully recovered 1.2 billion in unpaid taxes and royalties from mining companies following a comprehensive audit of the sector conducted in 2023, according to a report by Reuters.

The recovery marks a major step in Mali’s broader efforts to tighten regulatory oversight and boost revenue from its resource-rich mining sector particularly gold, where the country ranks as one of Africa’s top producers.

The audit, commissioned by Malian authorities in response to longstanding concerns over transparency and fiscal discipline in the industry, uncovered between 500 million to1 billion in irregularities, including unpaid royalties, tax evasion, and underreported production figures.

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These revelations prompted an aggressive review of existing agreements and a complete overhaul of Mali’s mining legal framework.

As a result, the 2023 Mining Code was introduced, significantly altering the regulatory landscape. The new law:

– Increased state ownership stakes in mining ventures,

– Raised royalty rates and taxes, and

– Eliminated stability clauses that had previously guaranteed fixed tax terms for investors for up to 30 years.

These changes were met with initial resistance from several multinational mining firms, including Barrick Gold, the country’s largest gold producer.

Barrick had been in a two-year dispute with the Malian government over tax claims, but the standoff ended in November 2025 with a reported settlement.

While the government confirmed the broader 1.2 billion recovery, it remains unclear whether Barrick’s estimated 400 million contribution is part of the total.

Other global players such as B2Gold, Allied Gold, Resolute Mining, Endeavour Mining, and Chinese lithium giants like Ganfeng and Kodal Minerals have also reportedly complied with the new regulations, settling their arrears and adjusting operations under the updated code.

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Officials say the reforms are already paying off. Mali’s Ministry of Mines projects annual mining revenues to exceed $1.6 billion under the 2023 legal framework up significantly from previous years.

The government aims to reinvest this windfall into national development priorities, including infrastructure, education, and social services.

The move has drawn international attention, signaling a shift in how African governments are asserting sovereignty over natural resources and renegotiating terms with multinational extractive companies.

While critics warn of potential impacts on foreign investment, the Malian government maintains that fair taxation and transparency are essential for sustainable growth.

As the dust settles on the new legal regime, Mali appears poised to strengthen its role as a major player in the global mining sector while ensuring that its citizens benefit more equitably from the country’s vast mineral wealth.

Source: DW

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