Robex Secures Stability and Growth in Mali with New Convention

Robex Resources Inc. (TSXV: RBX) has announced a significant milestone in its operations in Mali with the approval of the new convention by the Government of Mali. This agreement, signed between Nampala SA, Ressources Robex Inc., and the Government of Mali, brings a new level of stability and growth prospects for the company's Nampala mine. The new convention aligns with the "2023 Mining Code," which establishes new standards for mining permits, ensuring that Robex's operations are in line with the latest regulatory framework.

The agreement settles all outstanding tax assessments, customs disputes, and other assessments for any period prior to December 31, 2023, giving Robex a clean slate and greater certainty and stability in Mali. This resolution allows the company to focus on maintaining jobs, making necessary investments to extend the life of the mine, and adhering to the Local Content Act. Additionally, the agreement allows the Government of Mali to increase its stake in Nampala SA from 10% to 20% in preferred shares, aligning with other mining companies in the country. This increased stake, along with the nomination of at least two directors on behalf of the Government on the Board of Directors of Nampala SA, fosters a new economic partnership with the Government of Mali.

The agreement encompasses higher revenue-based taxes and royalties, albeit with specific exemptions, which are expected to offset the cost of fuel imports that were previously exonerated under the Nampala Mining Convention. Importantly, the Company would benefit from any terms that are more favorable than those agreed to as at the date of the agreement in the event of any future amendment to the "2023 Mining Code" or Implementation Decree. These changes, combined with the resolution of outstanding tax issues, contribute to a more stable and predictable financial outlook for Robex Resources and its Nampala mine.

Robex Managing Director Matthew Wilcox expressed satisfaction with the agreement, stating: "The agreement settles any and all existing tax assessments, customs disputes, and other assessments currently outstanding for Nampala SA while building a solid partnership with the Government. Nampala is effectively starting from a clean slate which gives the company greater certainty and stability in Mali."

The new convention addresses potential risks and ensures stability for Robex's operations in Mali by resolving outstanding tax and customs claims, increasing government stake and representation, aligning with the 2023 Mining Code, securing the future of the Nampala mine, and building a solid partnership with the Government of Mali. This agreement demonstrates Robex's commitment to responsible mining practices and community engagement, as well as its ability to navigate geopolitical tensions and ensure a stable operating environment.



In conclusion, the approval of the new convention by the Government of Mali is a significant step forward for Robex Resources, securing stability and growth prospects for its Nampala mine. The agreement addresses potential risks, ensures a stable operating environment, and fosters a new economic partnership with the Government of Mali. With this new convention in place, Robex Resources is well-positioned to continue its operations in Mali and explore new opportunities for growth and expansion.