By Felix Njini and Tiemoko Diallo NAIROBI (Reuters) - Some of Mali's top gold producers said a new law to allow the military-led government to ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNAIROBI - Some of Mali's top gold producers said a new law to allow the military-led government to increase its ownership of mines should not apply to existing operations, but analysts said it was likely to deter future investment.
Mining companies operating in Mali said producing mines would be safeguarded by previous conventions, which could allow them to seek international arbitration if necessary. "We will have to wait for its promulgation and the implementing decrees, especially the implementing decrees. There are things that are still in progress," he said.
"An existing mining project like Fekola Mine with a convention in compliance with the mining in place at the time the convention was entered into should not be impacted by the new mining code," B2Gold told Reuters."It would ultimately need to be factored into any future investment decision for potential projects that fall under the jurisdiction of this new mining law," a Hummingbird spokesperson told Reuters.
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