Yes, govt nationalizes LLL (and its Chinese partners holdings) which currently doesn't produce a cent, finished off building the mine itself somehow along with the traditionally tricky commissioning and ramp up and in the process scares off the multi-billion dollar mining industry (based mainly on Gold) which is kept afloat by foreign investment and expertise. Such superlative logic. More likely, DSO issue and related new mining code changes in Mali. LLL isn't the only miner in talks with government. Likely not great news but not the end of the world.
'Mali adopts new mining code that boosts state interests
August 8, 2023
The new code now allows the government to take a 10% stake in mining projects and the option to buy an additional 20% within the first two years of commercial production, mining commission chairman Assane Sidibe told reporters.
A further 5% stake could be ceded to locals, taking state and private Malian interests in new projects to 35%, from up to 20% today.
Meanwhile certain tax exemptions have been abolished, Sidibe said.
International miners in July said they were in talks with the government over new rules for the sector that has remained attractive despite coups and a deadly Islamist insurgency.'
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