The New Mining Code also follows the general trend of increasing (or creating) taxes and mine fees:
Increased royalties: The New Mining Code now distinguishes various royalty rates depending on the ore (e.g. 5% for raw/offshore-refined gold and concentrated iron, 3.5% for onshore-refined gold and concentrated base metals other than iron) instead of a single 3% rate applicable to any product. Basis for royalties has also changed being now the market value for locally traded products or FOB value for exported products (as opposed to the pithead value (valeur carreau mine) under the 2003 Mining Code).
Increased fixed fees: Fixed entry fees (paid on issuance, renewal, extension, prorogation or conversion, transfer or leasing (amodiation) of mining permits) have increased significantly from CFA francs 500,000 to CFA francs 2.5 million (approximately USD800 to USD4,100) for exploration permits and CFA francs 1.5 million to CFA francs 10 million (approximately USD2,500 to USD16,300) for exploitation permits.
New surface rent: A new surface rent is introduced, amounting to CFA francs 5,000 to 8,000 per km2 per year (approximately USD8 to USD13) during the exploration phase and CFA francs 250,000 per km2 per year (approximately USD400) during the exploitation phase.
Reimbursement of historical costs: The grant of a mining permit or the execution of a PSA may now be subject to the reimbursement of historical costs incurred by the State or the relevant public entity, if any.