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. In line with a rise in resource nationalism across the world, spurred on by strong commodity prices, the code adopted by Mali's Parliament - would allow the state and local investors to take stakes as high as 35% in mining projects compared with 20% now.
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.
"We are optimistic that, as in the past, we will find a mutually acceptable way to keep gold shining for Mali," a spokesperson told Reuters, saying Barrick has had "constructive relationship with successive governments".Lassana Guindo Until now gold mines, concentrated in the south of Mali and around the capital, away from the more unstable north of the country, have been largely shielded from instability and volatile tax regimes that have deterred investment in much of West Africa.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Miners Are Attempting to Diversify Into Other Business Areas: JPMorganMiners are now offering high performance computing services to the rapidly evolving artificial intelligence market, the report said.
Read more »
Russian miners, Chinese investors interested in Polymetal's Russian assets -FTRussian miners and Chinese investors are among the parties interested in buying gold and silver producer Polymetal International's Russian assets, CEO Vitaly Nesis told the Financial Times. Polymetal had considered spinning off its Russian business after re-domiciling to Kazakhstan from Jersey, but US sanctions imposed on its Russian assets complicated that process, forcing the group to seek a sale.
Read more »
ASIC-Maker Bitmain to Compensate Miners During Volatility SpikesFor first time ever, cryptocurrency mining equipment producer is going to protect its customers from crypto volatility
Read more »
Luminex reaches mediated agreement with informal minersCanada-based precious metals explorer Luminex has reached a mediated agreement with informal miners in the Condor North portion of its Condor gold and copper project, in Ecuador. The agreement enables Luminex to secure areas in strategic proximity to Condor North and, at the same time, satisfies the decades-long desire of these informal artisanal miners to gain legal mineral concession rights over informal mining properties in the company's Chinapintza area.
Read more »
European shares open higher led by miners, healthcare By ReutersEuropean shares open higher led by miners, healthcare
Read more »
Bitcoin difficulty jumps 6% to new peak as miners ignore BTC price dipBitcoin difficulty hitting new all-time highs this week hints that miners are not worried about the BTC price downturn.
Read more »