Legal Tensions: Mali's Court Considers Reopening Barrick's Gold Mine Amid Dispute

Mali's court is set to hear a request from the military government to reopen Barrick's Loulo-Gounkoto gold mine under provisional administration. The dispute, from suspended operations over tax and ownership issues, includes potential management changes and ongoing negotiations, while Barrick pursues international arbitration.

Mali's Tribunal de Commerce in Bamako is gearing up for a crucial hearing on Thursday regarding the future of Barrick's Loulo-Gounkoto gold mine. The military government seeks to reopen the mine under provisional administration, highlighting escalating tensions between the West African nation and the Canadian mining giant.

Barrick's operations were suspended in January due to disagreements over tax implementation and ownership clauses in the newly enacted mining code. The government previously seized gold, accusing the company of tax evasion, while Barrick insists on resuming activities only if export restrictions are lifted.

The situation has reached a fever pitch, with talks for a memorandum of understanding in progress, even as Barrick pursues international arbitration. The outcome could set a significant precedent for foreign investment treaties in Mali's lucrative mining sector.

(With inputs from agencies.)