Negotiation Deadlock: Mali's Resource Nationalism Challenges Barrick Gold

Mali's military-led government is in a complex negotiation with Barrick Gold over $199 million in back taxes. With influential negotiators Mamou and Samba Toure, Mali has demanded payment before returning seized gold and releasing detained executives. The standoff highlights the region's pursuit of resource nationalism.

In a high-stakes negotiation, Mali's government is demanding around $199 million in back taxes from Canadian mining giant Barrick Gold. This escalated conflict comes after the military-led administration seized approximately $245 million-worth of gold from Barrick last December.

Two former Randgold executives, now significant negotiators for Mali, have been pivotal in driving the government's demands. They are pushing to reclaim a portion of mining revenues as Mali seeks to reshape its extraction sector in line with new regulations.

The consequences of this dispute go beyond Barrick, impacting global mining operations in West Africa as the region shifts towards resource nationalism. Talks continue amid arrests and asset seizures, as Barrick and Mali's government remain at an impasse.

(With inputs from agencies.)