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Mali: Mining, Minerals and Fuel Resources 

Political instability and militant activities in many regions has had an adverse effect on Mali’s economy. The government was toppled by a military coup in the beginning of this year.

The country is a leading producer of gold. Social conflicts have centred on environmental impacts of mining, distribution of revenues and informal mining. In addition to a national EITI, Mali is considering ways of decentralising the EITI process to expand outreach to resource-rich communities. Recent EITI Reports have provided more information of relevance to local communities, such as artisanal and small-scale mining and payments by mining contractors.

Coping with decreased revenues from commodities, Mali is seizing the opportunity to reform Mali’s government received almost USD 450 million in revenues from the extractive industry in 2013.

This represents a 20% fall in revenue from mining companies on 2012 levels, mainly due to a decline in production and the sharp decrease in gold prices.

Landlocked between six other West African nations, including Burkina Faso and Guinea, Mali is a gold mining star in a resource-rich but troubled region. The nation is the third-largest gold producer in Sub-Saharan Africa with seven projects currently in operation.

As Mali recovers from the multidimensional security, political, and economic crisis of the last four years, the Government of Mali (GOM) is looking towards foreign investment as a key promoter of stability. With current annual economic growth rates at over five percent, important political progress including the signature of a peace accord and the continuation of direct negotiations between the government and armed groups are sources of hope for further economic revitalization.