INTRODUCTION TO Mali

Mali located in West Africa, has always been seen as having strong mining potential. This has been corroborated by a large number of historical references as well as established artisan mining activity, which is still in practice today.

Gold represents Maliís primary export. Mali produced 53,7 tonnes of gold in 2009. The countryís commercial mines have produced over 10 million ounces of gold since the nineties and the countryís measured and indicated resources total approximately 25 million ounces. There are currently seven active commercial mines in Mali.

INVESTMENT OPPORTUNITIES

Mali is very rich in investment opportunities, some of which are yet to be explored. The flow of Foreign Direct Investment has been increasing steadily over the past few years.

Mining accounts for a significant part of the national economy, representing 12% of the GDP. Gold and phosphate are the only minerals mined in Mali although deposits of copper and diamonds do exist.

EXPLORATION POTENTIAL

Gold exploration and mining activity in Mali is focused on 70 000 km≤ of exposed Palaeo-Proterozoic shield in the south and west of the country. Within this area, gold deposits are associated with Birimian volcano-sedimentry greenstone belts within Precambrian basement granitoids. The Faleme belt in the Kedougou-Kenieba inlier (on the border with Senegal) hosts the Loulo, Yalea, Sadiola, Yatela, Tabakoto and Segala deposits. The Morila, Syama and Kalana deposits are located to the south of the capital, Bamako.

A good potential for oil and gas has been confirmed by the existence of possible reservoirs represented by Ordovician sommital sandstones, Devonian and Ordovician basal sandstones. Upper infracambrian quartz tic and fractured lime stones and Cambrian and upper infracambrian quartz tic sandstones.

Discovery of favourable structures: Marhed in the compression zone against the threshold of Foum El Alba; Bouera, a horst with E-W direction; and Yarba, a normal anticline without reserve faulting, with an area of 180km≤ and a vertical closing of 200-300 metres.There are several structural and stratigraphic traps in the Upper Ordovician formations.

Currently, several companies are exploring on the ground with very encouraging results.

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COMPANIES MINING IN Mali


LEGISLATION & MINING POLICY OVERVIEW

Mali has a relatively well formulated mining code which has led to foreign investment in the mining industry.

The State owns all the mineral rights. Standard agreements are available. A scale of fees based on area is applied to mineral licenses.

Mining ventures are free of corporate tax for the first five years of production. Thereafter, the tax rate is 35% or less when profit is reinvested in Mali.

MaliíS ECONOMY

Mali is among the ten poorest nations of the world and, with a per capita GDP of under US$1,000, is dependent upon foreign aid.

The economy is based to a large extent on agriculture, and the most productive area lies along the banks of the Niger river.

There is still considerable potential in the production of agricultural commodities, livestock and fish but the most promising potential for substantial economic growth lies in the development of Maliís mineral wealth.