Gold producer, Resolute Mining (ASX:RSG) has been granted a further 10 year extension to Syama Gold Mine's mining permit.
It comes as the gold producer and the Mali Government agreed to a new Mining Convention which establishes bolstered fiscal and operating conditions for the mine.
The new convention guarantees a 10 per cent reduction on the previous income tax rate of 35 per cent, dropping it to 25 per cent.
The company is also set to benefit from other new concessions and guarantees, including the exemption from Malian customs duty on the importation of fuel.
Shares in Resolute Mining (ASX:RSG) closed 2.92 per cent lower at $1.17 yesterday.