Mali Recovers $1.2 Billion from Mining Firms Following Industry Audit

Mali’s government has recovered $1.2 billion in unpaid debts from international mining companies. The funds were collected after a comprehensive audit of the sector, the nation’s finance minister announced on Tuesday. The audit was part of the enforcement of Mali’s updated mining code. The 2019 law increased state royalties and ownership in mining projects. The recovered sum represents unpaid taxes, royalties, and other fiscal arrears. The finance minister stated the funds will support the national budget and public investments. This move highlights Mali’s push for greater revenue from its natural resources. The country is a major producer of gold in Africa.