(Dakar) The military government in Mali has begun seizing gold stocks from Canadian mining company Barrick as part of a legal battle over the share of revenue owed to the West African state, according to a internal Barrick letter seen by the Associated Press.
Posted at 1:31 p.m.
Wilson Mcmakin et Baba Ahmed
Associated Press
CEO Mark Bristow’s letter to the Malian Mines Minister, dated Monday, said Barrick was “awaiting official confirmation of receipt by the Malian Solidarity Bank,” a government company.
The seizure follows a warning letter sent to Barrick earlier this month by Mali’s principal investigating judge, Boubacar Moussa Diarra, indicating that three tonnes of gold would be seized.
A senior Barrick official confirmed on Monday that three tonnes had been seized by the military government and transported to the capital, Bamako. The official spoke on condition of anonymity because he was not authorized to speak publicly.
According to this senior official, the gold had been extracted from a mine near Kayes, in the west of the country, and transported by plane and truck to the capital on Saturday evening.
Malian authorities did not immediately respond to a request for comment.
Valued at around US180 million (CAN260 million), this gold seizure is part of the conflict over revenues owed to the Malian state. Last December, Mali issued an arrest warrant for CEO Bristow for money laundering, without providing evidence, and ordered the seizure of Barrick’s gold reserves. The company offered to pay 370 million (CAN 535 million).
Mali’s military government had already arrested four senior executives of the Canadian mining company in connection with this dispute; these senior officials are still detained.
Mali is one of Africa’s top gold producers, but has struggled for years with jihadist violence and high levels of poverty and hunger. The military took power in 2020 and the government has put foreign mining companies under increasing pressure as it seeks to shore up revenues.
Last November, the CEO of the Australian company Resolute Mining and two employees were arrested in Bamako. They were released after the company paid US80 million (CAN115 million) to Malian authorities to resolve a tax dispute and promised to pay another $80 million in coming months.
