A COURT in Mali on Tuesday rejected an appeal by Barrick Mining to release four employees arrested last November, escalating a long-running standoff between the Canadian firm and Mali’s government over taxes and mining ownership, said Reuters.
Judge Samba Sarr ruled the company’s appeal was “unfounded”, said the newswire citing Barrick lawyer Alifa Habib Kone. The four local employees face charges including money laundering and regulatory violations, which Barrick has dismissed as baseless.
The Canadian miner and Mali’s military-run government have been negotiating since 2023 over a new mining code that raises taxes and grants the state a greater share in gold mines. Barrick owns 80% of the Loulo-Gounkoto mining complex whilst the government holds the remainder.
Operations have been suspended since mid-January after authorities blocked Barrick’s gold exports and seized three tons of gold inventory. The four employees have remained in pre-trial detention in Bamako since their late November arrest.
Mali also issued an arrest warrant in December for Toronto-based Barrick CEO Mark Bristow, accusing him of money laundering and financial violations.
Governments in Mali, Burkina Faso and Niger – all military-led – are seeking to renegotiate terms with gold miners for larger revenue shares as gold prices soar, said Reuters.
Mali represents 14% of Barrick’s gold output, with the company generating $949m in revenue from its Malian operations in the first nine months of last year.
The dispute highlights growing tensions between international mining companies and West African military governments seeking greater control over natural resources, said Reuters.
