has signed into law a new mining code which will allow the military-led government to increase its ownership of gold concessions and recoup what it says is a major shortfall in production revenues.
It was not immediately clear if the code would affect existing projects. A mining ministry official said last week that this would depend on the implementing decrees, which have not yet been made available. Mali's Finance Minister Alousseni Sanou said on Monday evening that an audit of the mining sector had shown that the state was missing 300 billion to 600 billion CFA francs which it intended to recover.
"When we go into negotiations with the companies, it is possible that we will obtain 300-billion to 400-billion," he said.
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