Mali threatens to grab Barrick Gold’s property, firm says | USAEMALL.com

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The Malian government has escalated a dispute with Barrick Gold by closing the Canadian mining company’s office in Bamako and threatening to seize control of its assets in the country, the group said on Tuesday.

The ruling military junta had shut Barrick’s office in the Malian capital and warned it would place the company’s Loulo-Gounkoto gold-mining complex “under provisional administration unless the mine was reopened and tax payments were made — even though gold exports remain blocked”, the group added.

Barrick is among several western mining companies that were targeted last year amid tensions with the military junta.

Although certain companies reached agreements with the government in order to continue operating in the country, some executives and staff — including those of Barrick — were arrested.

In January, Barrick suspended operations in Mali after the government seized some of the company’s gold.

Barrick said at the time it had “regrettably initiated the temporary suspension of operations” at Loulo-Gounkoto because the company was being stopped from exporting gold from the mine.

An agreement with the government “now appears to be obstructed by a small group of individuals placing personal or political interests above the long-term interests of Mali and its people”, Barrick said on Tuesday.

“It is regrettable that the government continues to obstruct gold exports while simultaneously demanding tax payments on revenue it has actively prevented from being realised,” it added.

Barrick said it was prepared to take legal action against the Malian government if a solution to the dispute could not be found.

The government has been approached for comment.