The Canadian gold giant, Barrickis in open conflict with the Malian government. At the heart of the dispute: the largest gold mine in the country, Loulo-Gounkoto. Bamako accuses Barrick of financial embezzlement and demands hundreds of millions of dollars. To support its demands, the government has taken strong measures: arrest of employees, issuance of an international arrest warrant against the CEO of Barrick. The latest measure is the blocking of gold exports, which could constrain the CEO Mark Bristow has ” suspend its operations ». These tensions are part of a broader context of review of the Malian mining sector. The government adopted a new mining code in 2023, aiming to increase the state’s share of revenues generated by mining.
Many companies have already given in to pressure from Bamako, agreeing to pay large sums and apply the new code. Barrickfor his part, resists. The Canadian company estimates that the accusations against her are unfounded and the measures taken by the government are disproportionate. She accuses the Malian authorities of taking arbitrary measures, in particular tax and customs claims that she considers unfounded. The company also denounces a non-compliance with the agreements it concluded with the government at the end of September, following the first arrests. In response, Bamako blames Barrick not to keep its commitments and threatens not to renew one of the company’s operating permits, which expires in 2026.
For the Maligold is a strategic resource which represents a significant part of state revenue. By blocking exports from Loulo-Gounkoto, Bamako is jeopardizing a significant part of its gold production. For Barrickit’s about defending one’s interests and preserving one’s reputation. A prolonged suspension of operations in Mali would have significant financial consequences for the company.
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