West Shocked As Mali Junta Arrests The CEO OF An Australian Mining Company For Exploitation.

West Shocked As Mali Junta Arrests The CEO OF An Australian Mining Company For Exploitation.
When we say that it's high time African countries begin to deal with Western multinational companies, people think that we are not serious. But thankfully the military leader of Mali, Colonel Assimi Goita, has just proved the necessity of dealing with these Western companies. A few days ago, the military leader arrested the CEO and three other officials of Resolute Mining, an Australian mining company that has dominated the mining sector in Mali for years. This company together with the other foreign mining companies in Mali has exploited Mali’s gold and made billions of dollars of profit while Mali has been dealing with high levels of poverty and insecurity crisis. The question is “Why exactly did Colonel Assimi Goita arrest the CEO of Resolute Mining? What does he hope to achieve? And, what can other African leaders learn from this? Let's find out.

Mali, like Burkina Faso, is one of the leading producers of gold in Africa. But, it also has an ample supply of manganese and lithium -- two minerals key to the global energy transition, although these two minerals have not been extensively explored. According to the former Mines Minister, gold accounts for 25 percent of Mali’s national budget, 75 percent of its export earnings, and 10 percent of its GDP. This is to tell you how important gold is to Mali’s economy. However, just like most African country's mining sectors, Mali’s mining sector has been dominated since Independence by Western mining companies, including the Canadian firms Barrick Gold and B2Gold, Australia's Resolute Mining, and the British Hummingbird Resources. And, the interesting thing is that these companies have continued to operate in Mali, despite the jihadists insurgency.