Mali-Barrick Gold Deadlock: A Tax Dispute and Gold Seizure

Mali's government and Barrick Gold are set to engage in new negotiations to address a dispute over alleged tax non-payment by the miner and the consequent seizure of its gold stocks. The situation has led to the temporary suspension of Barrick's operations in Mali.

Mali's government and Barrick Gold are preparing for fresh negotiations on Tuesday, aiming to resolve a contentious dispute regarding the alleged non-payment of taxes by the Canadian mining giant.

The situation escalated when authorities seized nearly 3 metric tons of gold from Barrick's Loulo-Gounkoto complex, leading to Barrick suspending its mining operations in Mali.

This impasse has affected the company's performance, with shares reflecting a 2% decrease at the Toronto Stock Exchange.

(With inputs from agencies.)