The government announced the review of the mining code in January after it said an internal audit had shown that Mali, one of Africa's biggest gold producers, was not receiving a fair share of profits while granting too many tax breaks.
The draft, dated June 17 and verified by three sources close to the talks, shows the government aims to take a direct 10% stake in mining projects once a permit has been issued, entitling it to 10% of dividend payments. It would give the state the option to buy an additional 20% within the first two years of commercial production, possibly through a newly created state mining entity.Mali's current mining law, passed in 2019, gives the state the right to 10% with the possibility of acquiring a further 10% stake.
A separate bill within the law would ensure miners employ more locals to top positions, transfer skills and technology, and place a cap on expatriate salary costs, the sources said. A spokesman for Mali's mines ministry declined to comment on the draft, saying no law has been proposed so far to the country's transitional parliament.