US says billionaire Gertler’s royalties must go to Congo for sanctions deal
A senior White House adviser said lifting that punishment is necessary to open up the assets to new investments that support US interests.
Under a new mining code, companies operating in Mali will be protected from fiscal changes for 20 years, down from the previous “stability period” of 30 years, the mines minister said late on Thursday.
Mali had previously proposed a 10-year stability period. But that came under criticism for being too short and likely to discourage investors.
“We have to consider that the research phase can take at least seven, eight or nine years,” said Mines Minister Lelenta Hawa Baba Bah. “So we’ve gone for … a 20 years stability period.”
Companies operating in the country include Barrick Gold Corp , B2Gold, Hummingbird Resources and AngloGold Ashanti.
(By Tiemoko Diallo and Juliette Jabkhiro; Editing by Alex Richardson)
Comments
Ousmane
For sure mali have a larger mineral so hope that everything is back in normal