Some of Mali's top gold producers said a new law to allow the military-led government to increase its ownership of mines should not apply to existing operations, but analysts said it was likely to deter future investment. In line with a rise in resource nationalism across the world, spurred on by strong commodity prices, the code adopted by Mali's Parliament - would allow the state and local investors to take stakes as high as 35% in mining projects compared with 20% now.
Some of Mali's top gold producers said a new law to allow the military-led government to increase its ownership of mines should not apply to existing operations, but analysts said it was likely to deter future investment.
"We are optimistic that, as in the past, we will find a mutually acceptable way to keep gold shining for Mali," a spokesperson told Reuters, saying Barrick has had "constructive relationship with successive governments".Lassana Guindo Until now gold mines, concentrated in the south of Mali and around the capital, away from the more unstable north of the country, have been largely shielded from instability and volatile tax regimes that have deterred investment in much of West Africa.
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