https://en.sputniknews.africa/20250212/malis-talks-with-canadas-barrick-gold-reportedly-suspended-without-agreement-1070613842.html
Mali's Talks With Canada's Barrick Gold Reportedly Suspended Without Agreement
Mali's Talks With Canada's Barrick Gold Reportedly Suspended Without Agreement
Sputnik Africa
The Malian government and Barrick Gold were reportedly set to begin a new round of negotiations in late January, mediated by Mali's national trade union. 12.02.2025, Sputnik Africa
2025-02-12T17:54+0100
2025-02-12T17:54+0100
2025-02-13T10:39+0100
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Negotiations between the Malian government and Barrick Gold to resolve a prolonged dispute over tax payments from the Loulo-Gounkoto mining complex, operated by the Canadian company, have been temporarily suspended, with no agreement reached, a Western media outlet reported, citing sources familiar with the Malian government's position.To resolve the dispute with the Canadian miner, the Malian government is demanding a one-time settlement of 125 billion CFA francs (around $197.7 million) and compliance with a new mining code introduced in 2023, which could increase the country’s stakes and royalties and potentially shorten Barrick's license duration, while Barrick has proposed a payment plan spread over time, according to the report.If an agreement is reached, Mali may return three tonnes of gold, evacuated in January from the company's gold stock due to underpayment of taxes, and release four Barrick employees detained in September, the report said. As a result of the temporary suspension of operations at the Loulo-Gounkoto mine in mid-January, Barrick Gold excluded it from the 2025 forecast, but the company expects to update the guidance when it has greater certainty regarding the timing for the restart of operations.In the three months from September to December 2024, Barrick's all-in sustaining costs at the mine complex increased by 66%, according to the company's Q4 2024 results release.
https://en.sputniknews.africa/20250128/mali-and-barrick-gold-reportedly-return-to-negotiations-amid-tax-dispute-and-gold-seizure-1070389774.html
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mali, canada, north america, west africa, gold, gold miners, accusations, negotiations, taxes, mining, suspension
mali, canada, north america, west africa, gold, gold miners, accusations, negotiations, taxes, mining, suspension
Mali's Talks With Canada's Barrick Gold Reportedly Suspended Without Agreement
17:54 12.02.2025 (Updated: 10:39 13.02.2025) Elizaveta Roschina
Writer/Editor
The Malian government and Barrick Gold were reportedly set to begin a new round of negotiations in late January, mediated by Mali's national trade union.
Negotiations between the Malian government and Barrick Gold to resolve a prolonged dispute over tax payments from the Loulo-Gounkoto mining complex, operated by the Canadian company, have been temporarily suspended, with no agreement reached, a Western media outlet reported, citing sources familiar with the Malian government's position.
To resolve the dispute with the Canadian miner, the Malian government is demanding a one-time settlement of 125 billion CFA francs (around $197.7 million) and compliance with a new
mining code introduced in 2023, which could increase the country’s stakes and royalties and potentially shorten Barrick's license duration, while Barrick has proposed a payment plan spread over time, according to the report.
If an agreement is reached, Mali may return three tonnes of gold, evacuated in January from the company's gold stock due to underpayment of taxes, and release four Barrick employees detained in September, the report said.
As a result of the
temporary suspension of operations at the Loulo-Gounkoto mine in mid-January, Barrick Gold excluded it from the 2025 forecast, but the company expects to update the guidance when it has greater certainty regarding the timing for the restart of operations.
In the three months from September to December 2024, Barrick's all-in sustaining costs at the mine complex increased by 66%, according to the company's Q4 2024 results release.
