Decided this is probably interesting from the FFX angle.Posted...

Decided this is probably interesting from the FFX angle.

Posted about the 2023 Mining Code which I hadn't been able to source until today: https://hotcopper.com.au/threads/ann-suspension-from-quotation.7585783/page-165?post_id=69917641

I'm hoping none of the changed clauses were introduced because of Mali perceptions/rumours around what's happened at FFX (including inherited problems from the original Morila purchase and the LLL split).

I find the following changes interesting given recent events:

• Change to categorisation of Lithium (how many other Lithium mines in Mali nearing production?)
• Refinement must be in state-owned Mali facilities, or otherwise must be in Mali (how many others currently / were looking to DSO?)
• Crime for dumping waste rock or mud into areas where there are minerals with a duty to undo the impact (tailings discussion?)
• Changes to application of custom duties and taxes (previous LLL letter?)
• Changes to ensure "arms-length" dealings between related entities (no comment)
• Bank guarantee before transferring licences (how many other licences have been recently transferred?)
• Local content provisions (Don't think this is FFX/LLL targeted but wonder if the engagement of Mota-Engil through MEIM raised any concerns? Wonder what it means for LLL contractors headquartered outside Mali?)
• Changes to be able to cancel a permit if granted by "incompetence by the granting authority", together with the media reports about concerns about some previous mining permit grants, together with the freeze on permits being awarded with allegations of concerns of risks of corruption, together with the new rules removing the power of a single individual to grant permits (which other permits were recently granted and/or renewed?)
• Ability to cancel a permit if a company fails to identify the beneficial owner of a holding company (an interestingly specific one: I assume not completely related to FFX or LLL given the ownership is known, but shows an interest in looking beyond the corporate veil, and there may be a translation and legal relevance beyond "identify" by the company e.g. to nominate the beneficial owner for particular purposes)
• Ability to cancel a permit if there has been "misrepresentation of technical and financial capabilities" (presumably allowing cancellation if Mali feel a company is no longer demonstrating they have the capacity to explore/operate?)