Mali Recovers $1.2 Billion from Miners After Sector Audit and Code Reform
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Mali recovered 761 billion CFA francs ($1.2 billion) in mining arrears following a 2023 audit that identified shortfalls of 300-600 billion CFA francs ($500 million-$1 billion), Finance Minister Alousséni Sanou announced December 2. The audit by Inventus and Mozar prompted a recovery commission, the 2023 mining code raising royalties and state ownership, and elimination of stabilization clauses.
Barrick Gold settled separately for 244 billion CFA francs ($430 million) in November 2025, resolving a dispute over Loulo-Gounkoto operations; Sanou did not confirm if this forms part of the $1.2 billion total. B2Gold, Allied Gold, Resolute Mining, Endeavour Mining, Ganfeng, and Kodal also cleared obligations. The code projects 586 billion CFA francs additional annual revenue from audited firms, totaling 1,022 billion CFA francs, against 2.87 billion CFA francs audit costs. Gold output fell 32% year-on-year to 26.2 tons through August amid regulatory tightening.
