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State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west African country’s mines ministry showed on Wednesday.
Mali is one of Africa’s top gold producers and is home to mining companies including Barrick Gold, Resolute Mining and Hummingbird Resources. The revenue paid by mining companies to the Treasury fell to 563.8 billion CFA francs last year from 763.6 billion CFA francs in 2022, according to the document shared withThe decrease in revenue was mainly due to lower taxes, which had fallen to 384.9 billion CFA francs last year from 532.7 billion in 2022.
Economy minister Alousseni Sanou said last month that the country’s recent deal with China’s Ganfeng Lithium could bring Mali between 110 billion and 115 billion CFA per year from 2025.Palladium not written off the road yet, miners say Palladium’s shortfall may ease to about 200,000 oz. in 2025 before swinging into a surplus the following year and to as much as 700,000 oz. by 2028, the World Platinum Investment Council said.Traders are currently pricing in about a 59% chance of a Fed rate cut in September, according to CME FedWatch.Atlanta is on the site of a past-producing open-pit gold mine where Standard Slag produced 110,000 oz. of gold and 800,000 oz. of silver.
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