Robex Solidifies Future with Mali Government at Nampala Mine

Robex Resources Inc. Strengthens Ties with Mali Government

Robex Resources Inc. (Robex) has made a significant step forward by executing an agreement with the Government of Mali to resolve tax and customs claims related to the Nampala Gold Mine. This strategic agreement clears the path for more stable operations at the mine, allowing Robex to focus on future developments including their Kiniero Gold Project.

Key Details of the Agreement

As part of the newly inked agreement, which addresses all outstanding tax issues, Robex will comply with the mining sector reforms introduced by the Government of Mali. This includes the implementation of the recently approved 2023 Mining Code, a document that serves as a standard for all mining permits in the country. Notably, this code aims to enhance the relationship between mining companies and the state.

A Fresh Start for Nampala Gold Mine

Robex's operations at the Nampala Gold Mine have been substantial, with production figures reaching over 230,000 ounces of gold since it commenced operations in early 2017. Under the new agreement, all previous tax assessments and customs disputes before December 31, 2023, will be settled, setting the stage for future profitability and efficiency.

Tax Advantages and Responsibilities

Under the agreement, the Government will increase its stake in Nampala SA from 10% to 20%, a move that aligns with practices observed in the mining sector across the nation. Additionally, while higher revenue-based taxes and royalties are part of the deal, the Government has consented to a reduction of 2%, impacting the overall cost structure and contributing to a more favorable operational environment.

Robex Focuses on Sustainable Mining Practices

The agreement not only resolves past disputes but also requires Robex to present an operating plan that emphasizes job preservation and community investment. These commitments are vital for ensuring compliance with the Local Content Act, an initiative aimed at maximizing local employment and sourcing.

The Future of the Kiniero Gold Project

While focused on the Nampala mine, Robex is simultaneously evaluating prospects for the Kiniero Gold Project. The company is currently assessing potential buyers for its Mali-based assets, including Nampala. However, the geopolitical climate poses challenges in reaching favorable agreements, underscoring a cautious approach to any business transactions in the region.

Management Perspective on the Agreement

Matthew Wilcox, the Chief Executive Officer, remarked on the impact of this agreement, stating it allows Robex to move forward with a clean slate in Mali and fosters a productive partnership with the Government. This optimism reflects the potential benefits that the mining sector reforms can bring, enhancing the company's stability in the challenging economic landscape.

Conclusion: A Bright Horizon for Robex

Robex is poised for a promising future, enabled by the successful agreement with the Malian Government, which lays the groundwork for ongoing production at the Nampala Gold Mine and the advancement of the Kiniero Gold Project. The strong commitment shown by both parties suggests a shared vision for sustainable mining practices and economic benefits for the region.

Frequently Asked Questions

What is the significance of the agreement between Robex and the Government of Mali?

The agreement resolves past tax and customs disputes, allowing Robex a clearer operational environment and enhancing its partnership with the government.

How will the new mining code affect Robex?

The 2023 Mining Code sets new standards for mining permits, which Robex must adhere to, promoting a healthier regulatory framework for its operations in Mali.

What are the expected outcomes of the agreement for the Nampala mine?

The agreement is expected to stabilize operations, facilitate production, and provide a structure for future profitability through reduced tax burdens.

Is Robex planning to divest from Mali entirely?

While Robex is exploring potential sales of its Mali assets, including the Nampala mine, it has not yet received reasonable offers and will carefully consider its options.

How does the increased government stake influence Robex?

The increased government stake from 10% to 20% may lead to shared governance and collaborative decisions regarding the mining operations, fostering a mutual interest in growth and sustainability.

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