London-listed Endeavour Mining (EDV.L) has announced, along with two other gold producers, their agreement to transition to Mali’s new mining code, according to government officials.
Breakdown
- Endeavour Mining and two other gold producers have agreed to transition to Mali's new mining code.
- The new code increases taxes and state ownership, leading to industry conflicts since its implementation. 13s
- Mali's gold production declined by 23 percent last year, totaling 51 metric tonnes. 24s
- A memorandum of understanding was signed with Somika SA, Fabula Gold, and Bagama Mining, but details were not disclosed. 42s
- Regulatory uncertainties in Mali have regularly impacted investment and gold production. 1m 2s