B2Gold Moves Forward with Mali Exploration Amid Reduced Regulatory Risks
Canadian mining company B2Gold announced that it will invest US$10 million this year to explore the Fekola gold mine in Mali after reaching a settlement with the government to mitigate regulatory risks. In August 2023, Mali’s military junta, which seized power in a 2021 coup, introduced a new mining law that increased its share of state revenue and eliminated tax exemptions for mining companies. B2Gold quickly reached an agreement to resolve the tax requirements in September and realign parts of its operations under the new guidelines. Chief executive Clive Johnson said the settlement reduced operational risks and ensured employee safety. By contrast, Mali’s largest investor, Barrick Gold, has faced more serious consequences, including the seizure of $250 million worth of gold and the issuance of a warning to its CEO, Mark Bristow. Arrest warrant.
source: Reuters
