https://en.sputniknews.africa/20250128/mali-and-barrick-gold-reportedly-return-to-negotiations-amid-tax-dispute-and-gold-seizure-1070389774.html
Mali and Barrick Gold Reportedly Return to Negotiations Amid Tax Dispute and Gold Seizure
Mali and Barrick Gold Reportedly Return to Negotiations Amid Tax Dispute and Gold Seizure
Sputnik Africa
At the heart of the dispute between the West African country and the Canadian mining company is Mali's new mining code, enacted in 2023, which increases the... 28.01.2025, Sputnik Africa
2025-01-28T15:29+0100
2025-01-28T15:29+0100
2025-01-28T15:51+0100
sub-saharan africa
mali
west africa
canada
north america
mining
gold
arrest
taxes
negotiations
https://cdn1.img.sputniknews.africa/img/07e9/01/1c/1070390585_0:388:2952:2048_1920x0_80_0_0_1e199bf084c59e76f5da30c9ccc0a6fa.jpg
Mali's government and Barrick Gold, the world’s second-largest gold producer, are set to begin a new round of negotiations on Tuesday to resolve an escalating dispute over alleged unpaid taxes and the seizure of the company’s gold stocks, according to Western media reports.The talks, reportedly mediated by Mali's National Workers Union, come after authorities confiscated nearly 3 tonnes of gold, valued at $250 million, from Barrick’s Loulo-Gounkoto mining complex. The seizure prompted Barrick to temporarily suspend its operations in the country.Mali is reportedly demanding $199 million from Barrick, though another Western media outlet suggested that Barrick is willing to pay $370 million to settle the conflict.Adding to the tension, Mali issued an arrest warrant for Barrick CEO Mark Bristow last month over money laundering allegations, which the company firmly denies.Additionally, four Barrick Gold employees were detained last September but were later released following an agreement made between the company and the Malian government. In October, Mali accused the company of breaching an agreement related to the Gounkoto-Loulo gold mine complex. According to a joint statement from the ministers of mining and economy, these violations involve foreign currency regulations, corporate social responsibility, and environmental concerns.
https://en.sputniknews.africa/20250112/mali-to-receive-12-billion-from-miners-over-disputes-after-sector-overhaul-economy-minister-says-1070142215.html
mali
west africa
canada
north america
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
mali, west africa, canada, north america, mining, gold, arrest, taxes, negotiations, economy
mali, west africa, canada, north america, mining, gold, arrest, taxes, negotiations, economy
Mali and Barrick Gold Reportedly Return to Negotiations Amid Tax Dispute and Gold Seizure
15:29 28.01.2025 (Updated: 15:51 28.01.2025) Christina Glazkova
Writer / Editor
At the heart of the dispute between the West African country and the Canadian mining company is Mali's new mining code, enacted in 2023, which increases the state’s share of mining revenues and eliminates tax exemptions for mining companies.
Mali's government and
Barrick Gold, the world’s second-largest gold producer, are set to begin a new round of negotiations on Tuesday to resolve an escalating dispute over alleged unpaid taxes and the seizure of the company’s gold stocks, according to Western media reports.
The talks, reportedly mediated by Mali's National Workers Union, come after authorities confiscated nearly
3 tonnes of gold, valued at $250 million, from Barrick’s Loulo-Gounkoto mining complex. The seizure prompted Barrick to temporarily
suspend its operations in the country.
Mali is reportedly demanding $199 million from Barrick, though another Western media outlet suggested that Barrick is willing to pay $370 million to settle the conflict.
Adding to the tension, Mali issued an arrest warrant for Barrick CEO Mark Bristow last month over money laundering allegations, which the company firmly denies.
Additionally, four Barrick Gold employees were detained last September but were later released following an agreement made between the company and the Malian government. In October, Mali
accused the company of breaching an agreement related to the Gounkoto-Loulo gold mine complex. According to a joint statement from the ministers of mining and economy, these violations involve foreign currency regulations, corporate social responsibility, and environmental concerns.
