Tensions have flared between Mali and Canadian mining giant Barrick Gold as authorities closed the company’s Bamako office.
This action stems from alleged non-payment of taxes, escalating a protracted dispute over mining revenues.
Barrick confirmed the closure, stating Mali also threatened provisional administration of the suspended Loulo-Gounkoto mine unless operations resumed and taxes were paid.
The dispute between the Toronto-based miner and Mali began in 2023 over the implementation of Mali’s new mining code.
This code grants the government a larger share in gold mines.
Barrick claimed it signed an agreement in February to resolve the issue, but the Malian government has yet to execute it.
The company accused a “small group of individuals” of obstructing the agreement for personal or political gain.
Operations at the Loulo-Gounkoto complex have been suspended since mid-January after the government seized approximately three tons of gold stock.
This seizure was due to a separate tax dispute. Mali had already been blocking Barrick’s gold exports since November.
Sources suggest a resolution to the ongoing conflict could be reached as early as next week.