Mali gold mining revenue rises 23% in 2021

Resolute’s Syama gold mine in Mali.

State revenue from gold mining companies in Mali rose 23% year-on-year in 2021 to 564.5 billion CFA francs ($931 million) after certain tax allowances were ended, a mines ministry official said on Monday.

Mali is one of Africa’s top gold producers and home to industrial mines operated by companies including Barrick Gold, B2GOLD, Resolute Mining, AngloGold Ashanti and Hummingbird Resources.

Mining, mostly for gold, is a pillar of the country’s economy, accounting for nearly 10% of gross domestic product (GDP) in recent years.

“The increase (in revenue) is due to the lifting of certain exemptions granted to some,” said Mamadou Sidibe, director of the ministry’s statistics unit.

Mali’s industrial gold output was 63.4 tonnes in 2021, a 2.6% drop from the previous year.

($1 = 606.5000 CFA francs)

(By Tiemoko Diallo and Nellie Peyton; Editing by David Gregorio)

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