Mali annuls 90-plus mining exploration permits amid legal changes

Core Points - Mali has cancelled over 90 mining exploration permits due to alleged non-compliance with new legal requirements, affecting subsidiaries of international mining companies [1][2] - The decree, signed on October 13 and reassessed on October 29, releases all rights granted by the permits, making the areas available for reallocation [2] - The Mines Ministry indicated widespread non-compliance with new mining rules as the reason for the cancellations, but did not clarify if companies can appeal or resubmit applications [3] Industry Context - This action reflects a trend in African countries, including Guinea, to reform mining industries by revoking non-compliant permits and enforcing stricter regulations to enhance resource earnings [4] - Mali, a leading gold producer in Africa, is facing regulatory crackdowns and security issues that are hindering foreign investment, with industrial gold production expected to fall short of its 2025 target [5] - The military-led government has strengthened ties with Russia through energy and mining agreements, building on previous Russian-backed initiatives in Mali's mining sector [6]