Mali refuses to free detained staff of Canadian company
A court in Mali has rejected a request for the conditional release of four employees of Barrick Mining Corporation, who have been detained since 2024 on accusations of money laundering and financing terrorism. The decision was announced on Tuesday by the company's lawyer, Alifa Habib Kone, according to Reuters.
The Canadian mining giant has dismissed the allegations as baseless and filed an appeal challenging what it described as the employees' "arbitrary" detention. However, Kone said Judge Samba Sarr deemed the petition "unfounded."
Barrick, one of the world's largest gold producers, has operated in Mali for nearly three decades, but relations have deteriorated amid a dispute over alleged unpaid taxes and royalties. Tensions escalated in November when four local executives were detained and a warrant was issued for CEO Mark Bristow. Recent negotiations broke down after the Malian authorities demanded a lump-sum payment of 125 billion CFA francs ($197 million) in unpaid revenues, while Barrick proposed a structured payment plan instead.
Last month, Mali's military-led government temporarily stripped Barrick of control over operations at the Loulo-Gounkoto gold complex in the country's west. A court in Bamako ordered that management of the site be transferred to a state-appointed provisional administrator for a six-month period. Barrick denounced the ruling as illegal and a breach of its contractual agreements, and has filed a case against Mali with the World Bank's arbitration tribunal.
According to Bloomberg, the authorities in the Sahel state seized around a ton of gold from the mine earlier this month, which the provisional administration is expected to sell to fund the site's operations.
The Loulo-Gounkoto mines are 80% owned by Barrick and 20% by the Malian government. In 2023, the former French colony introduced a new mining code allowing the state to claim up to a 30% stake in new projects, as part of efforts to boost public revenues. In June, Mali's economy and finance minister, Alousseni Sanou, stated that a new agreement with Russia's Yadran Group to establish a gold refinery - 62% owned by the state - would help increase national income from bullion production.
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CTV News
4 hours ago
- CTV News
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Toronto Sun
4 hours ago
- Toronto Sun
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Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Until this week, Canada and Mexico received similar treatment in White House trade actions. Each was subject to a 25% base tariff, with a large exemption for goods shipped under the North American free trade pact known as CUSMA (or USMCA). That changed on Thursday, when Trump granted Mexico a 90-day pause on tariff hikes while jacking up its tax on Canadian products to 35%. The administration said Canada's higher rate was a response to fentanyl trafficking and its moves to hit back with counter-tariffs. The situation leaves Prime Minister Mark Carney with a political dilemma. 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Toronto Star
8 hours ago
- Toronto Star
An open letter to Prime Minister Carney from Canada's $7B cannabis industry
Despite our progress, writes Paul McCarthy, significant barriers still prevent the Canada's massive cannabis industry from reaching its full potential — barriers we urge Ottawa to address as part of building One Canadian economy. Jeff McIntosh / The Canadian Press file photo flag wire: false flag sponsored: false article_type: Opinion : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false : Paul McCarthy is the president and CEO of the Cannabis Council of Canada. This letter is endorsed by more than 50 CEOs across Canada's legal cannabis sector. Full list of signatories available at Opinion articles are based on the author's interpretations and judgments of facts, data and events. More details
