Mali-Barrick Gold Dispute: Tensions Rise Over Unfulfilled Agreements

Mali accuses Barrick Gold of not honoring commitments in a recent agreement regarding the Loulo and Gounkoto gold mines. Barrick denies the claims, stating ongoing negotiations aim to increase Mali's economic benefits. The dispute highlights the broader push for renegotiating mining contracts in the country.

The ongoing dispute between Mali and Barrick Gold has escalated, with Mali accusing the Canadian mining company of failing to honor the commitments outlined in a recent agreement. Barrick, however, refuted these allegations on Thursday, stating that it does not acknowledge any claims of wrongdoing.

Disagreements emerged shortly after Barrick announced a resolution plan for issues surrounding the Loulo and Gounkoto mines. Despite the Canadian miner's assertion of compliance, Mali's economy and mines ministries issued a joint statement on October 23, accusing Barrick of breaching environmental, corporate social responsibility, and foreign exchange rules.

In response, Barrick highlighted its intention to act in good faith and revealed that it had paid $85 million to Mali in October. Sources indicate that Mali's military government seeks substantial outstanding taxes from Barrick, fitting into a broader initiative to renegotiate mining contracts for increased state revenue.

(With inputs from agencies.)