(Toronto) Barrick Gold warns that if its inability to ship gold from its Loulo-Gounkoto mine in Mali is not resolved in the coming week, it will have to temporarily suspend operations at the mine.
Posted at 9:13 a.m.
The company is embroiled in a dispute with Mali’s government, which is trying to pressure companies in its important mining sector into paying millions of dollars in extra taxes.
The warning comes as Barrick faces a restriction on shipping gold from the mining complex in Mali.
The company says it now faces a provisional seizure order that prevents the export of existing gold stock at the site and disrupts normal operations.
Barrick believes the order is unwarranted and contravenes agreed dispute resolution mechanisms.
The company has submitted an application to the International Center for Settlement of Investment Disputes to resolve its dispute with the government of Mali.
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