Ngagne Demba Touré spoke on TV5 on Tuesday, addressing several subjects, including Senegal’s oil contracts which do not sufficiently benefit the State of Senegal.
Ngagne Demba Touré, CEO of the Senegalese Mining Company, spoke out on the renegotiation of mining, oil and gas contracts announced by the President of the Republic. He was very firm regarding mining companies.
He also mentioned that many amounts owed to the Senegalese state, in terms of royalties, taxes, duties, and contributions to local content and local development, are not properly recovered by the state. According to him, these sums are not paid by the mining companies.
The CEO of the Senegalese Mining Company said that the State of Senegal seeks to establish a balanced partnership with these companies. He stressed the need to guarantee the continuity and security of investments, while ensuring that these investments benefit more the Senegalese people, and in particular local communities.
Mr. Touré therefore expressed a firm position for mining companies to better respect their financial obligations to the Senegalese state, in order to ensure that the benefits of the country’s natural resources are shared more equitably and contribute to national and local development.
