Malian Authorities Shut Barrick Gold Office Amid Tax Dispute

The Malian government has closed Barrick Gold's office in Bamako due to an alleged tax dispute. The issue stems from disagreements over the country's new mining code. Negotiations are ongoing to resolve the matter, and key operations have been suspended pending resolution.

The ongoing dispute between Barrick Gold and the Malian government has intensified, with authorities in Mali closing the company's office in Bamako. This move follows allegations of Barrick's failure to fulfill tax obligations, further straining relations over mining revenues in the resource-rich nation.

The conflict traces back to a disagreement over Mali's new mining code, introduced in 2023, which seeks to grant the government a larger share in gold mining operations. Negotiations to resolve the dispute are reportedly underway, with an agreement awaiting government approval.

Operations at the Loulo-Gounkoto mining complex are on hold due to the seizure of significant gold stock by Malian authorities. Barrick Gold is reallocating staff to its Kibali mine in the Democratic Republic of Congo as a temporary measure, hinting that a resolution might not be imminent.

(With inputs from agencies.)