MALI could leverage revenues from its overhauled mining sector to raise up to 500 billion CFA francs ($883.1 million) for energy, water and transport projects, said Reuters citing the comments of the country’s finance minister Alousseni Sanou.
The remarks give the first indication of how authorities intend to deploy proceeds from a 2023 mining code overhaul that raised royalties and expanded state stakes in mining ventures including Canada’s Barrick Mining. Officials said in December that a government audit had uncovered 761 billion CFA francs in alleged arrears owed by mining firms.
Speaking on state television at the weekend, after the inaugural meeting of the Energy, Water and Transport Infrastructure Development Fund, Sanou said the fund had raised 109.14 billion CFA francs between January 2025 and June 2026.
Established in 2023, the fund draws solely on contributions from mining permit holders, including 1% of quarterly turnover and ad valorem taxes of 10% in a mine’s first five years, rising to 2% afterwards. Sanou said it generates at least 50 billion CFA francs a year and could underpin far larger borrowing.
Infrastructure Minister Dembele Madina Sissoko said proposed projects include railways, roads, vessels and schemes tied to state carrier Mali Airlines. Ghana approved similar use of mineral revenue last year.
