Tear it down and start over! Africa's largest gold producer is going to re-examine its mining contracts. To put it bluntly, it is the gold mining contract signed by the previous government, and the new government cannot get oil and water, and has to sign the contract again, which is indeed too common in Africa.
This country is the Mali of Africa, at the beginning of the last century, the French explored and discovered a large number of gold deposits in Mali, these major discoveries made Mali one of the countries with the largest gold reserves in the world, according to the 2021 Canadian Gold Group assessment, Mali gold reserves are close to 1,000 tons.
In August 2020, a military coup d'état occurred in Mali, which was condemned by international organizations such as ECOWAS, the United Nations Security Council, the African Union, the European Union, and France; ECOWAS has imposed a number of tough trade and financial sanctions on Mali.
In the two years since, economic sanctions, combined with the coronavirus pandemic, have led to worsening economic conditions, political instability, and increased diplomatic isolation, combined with worsening climatic conditions and the erosion of traditional lifestyles and patterns by crop failures, and the internal security situation has continued to deteriorate.
According to data from Mali's statistical agency, the country's gold exports reached 69.3t in 2022, an increase of 8.4%, continuing to maintain Mali's position as the largest source of foreign exchange commodities.
At this point, Mali's military junta naturally had the country's more than 2,000 gold mines in mind, and the government set up a special committee to renegotiate mining contracts, mandate the repatriation of cash from gold exports, and pass environmental regulations for the mining industry.
