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Mali has noted that it could leverage revenues from its overhauled mining sector to raise up to 500 billion CFA francs, or US$883.1 million, for energy, water and transport projects, the clearest signal yet of how the military government intends to deploy the windfall from its 2023 mining code reform.
That reform raised royalties and increased state stakes in mining projects, sparking disputes with operators including Canada’s Barrick but officials say it is now paying fiscal dividends. A government audit disclosed in December had already recovered 761 billion CFA francs in alleged arrears from mining companies, underlining how central the sector has become to state revenue.
Speaking after the first meeting of the Energy, Water and Transport Infrastructure Development Fund, Finance Minister Alousseni Sanou said the fund mobilised 109.14 billion CFA francs between 1 January 2025 and 30 June 2026. Created in 2023, it is financed exclusively by large and small scale mining permit holders, including 1% of quarterly turnover and 10% of ad valorem taxes during a mine’s first five years, rising to 2% thereafter. Sanou said the fund generates at least 50 billion CFA francs annually and could be leveraged into substantially larger infrastructure financing.
Infrastructure and Transport Minister Dembele Madina Sissoko said projects presented to the fund include railway developments, road construction, boat acquisitions and initiatives linked to state owned Mali Airlines SA. The move reflects a wider continental pattern of resource producing nations pushing for a larger share of mining profits. Ghana’s parliament last year approved using mineral revenues to fund its flagship Big Push infrastructure programme, officials noted, suggesting Mali’s approach forms part of a broader regional shift toward channelling mining wealth directly into public infrastructure.
