Latest news with #Barrick
TimesLIVE
2 hours ago
- Business
- TimesLIVE
Mali court rejects appeal to release four Barrick employees
A court in Mali on Tuesday rejected an appeal by Barrick Mining to release four employees arrested last November, judge Samba Sarr said, the latest development in a long-running standoff between the Canadian firm and the Mali government over taxes and ownership of mining operations in the country. The appeal by the company, which has dismissed the allegations against the four local employees as baseless, was determined by the judge to be "unfounded", said Alifa Habib Kone, a lawyer for Barrick. The employees face charges including money laundering and violation of other regulations, Kone said. Barrick has said it refutes the charges against its employees. Barrick and Mali's military-run government have been in negotiations since 2023 over the implementation of a new mining code that raises taxes and gives the government a greater share in the country's gold mines.
Business Insider
a day ago
- Business
- Business Insider
Mali court denies bail for Barrick staff as gold mine seizure deepens crisis
An appeal for the conditional release of four Barrick Mining Corp. employees, who have been in custody since November 2024 on allegations of money laundering, terrorism financing, tax violations, and other regulatory offenses, all of which Barrick strongly disputes, was denied by a Malian court on Tuesday. A Malian court denied an appeal for the conditional release of four Barrick employees held since November 2024 for allegations including money laundering and terrorism financing. Barrick disputes the claims, citing legally binding agreements affected by Mali's 2023 mining code, which raised royalties and enhanced state equity. Operations at the Loulo-Gounkoto mining complex have been suspended due to gold export bans and state control measures, including gold bullion seizures. The decision is made in the midst of increased tensions following the six-month state management of Barrick's Loulo–Gounkoto gold mining complex by Mali's military junta. According to Alifa Habib Kone, a lawyer for Barrick, the judge found the company's appeal, which discounted the allegations against the four local employees as baseless, to be "unfounded". The seizure is part of a larger dispute that was brought on by Mali's new 2023 mining code, which raised mining royalties and increased the state's equity share. Barrick opposes these measures, pointing to legally binding agreements already in place. Barrick's operations at Loulo-Gounkoto have been halted since January 2025, when Malian authorities banned gold exports and seized approximately three metric tonnes of the company's gold bullion. In mid-July, state helicopters retrieved an additional one metric tonne of gold worth an estimated US$117 million, possibly for selling to support mine operations under state control. Mali's assertive posture reflects a growing movement among West African military governments (e.g., Burkina Faso, Niger, Guinea, DRC) to renegotiate mining terms, tighten exports, and gain greater control over critical resources. Barrick criminal conspiracy in the Sahel The four Barrick employees have been in prison in Bamako since their arrest by Malian police in November last year. Additionally, in December 2024, Mali issued an arrest warrant for Barrick CEO Mark Bristow, accusing him of money laundering and financial misconduct The warrant document alleges that he violated financial regulations and is accused of money laundering. Concerning the recent surge in gold prices, the junta-led governments of Mali, Burkina Faso, and Niger are attempting to renegotiate new terms with gold miners to increase their share of mining profits.
Yahoo
a day ago
- Business
- Yahoo
Mali court rejects appeal to release four Barrick employees, judge says
BAMAKO (Reuters) -A court in Mali on Tuesday rejected an appeal by Barrick Mining to release four employees arrested last November, judge Samba Sarr said, the latest development in a long-running standoff between the Canadian firm and the Mali government over taxes and ownership of mining operations in the country. The appeal by the company, which has dismissed the allegations against the four local employees as baseless, was determined by the judge to be "unfounded", said Alifa Habib Kone, a lawyer for Barrick. The employees face charges including money laundering and violation of other regulations, Kone said. Barrick has said it refutes the charges against its employees. Barrick and Mali's military-run government have been in negotiations since 2023 over the implementation of a new mining code that raises taxes and gives the government a greater share in the country's gold mines. Barrick owns 80% of the Loulo-Gounkoto mining complex in Mali and the government owns the rest. Operations have been suspended since mid-January after the government blocked Barrick's gold exports and seized three metric tons of its stocks. Malian authorities arrested the four employees in late November and they have been in pre-trial detention in Bamako, according to Barrick's website. Mali also issued an arrest warrant last December for Barrick CEO Mark Bristow who is based in Toronto. He is accused of money laundering and violating financial regulations, according to the warrant document. Governments in Mali, Burkina Faso and Niger - all led by juntas - are all seeking to renegotiate new terms with gold miners to gain a bigger share of mining revenue at a time when gold prices have soared. Mali represents 14% of Barrick's gold output and the company generated $949 million in revenue from its operations there in the first nine months last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
a day ago
- Business
- Reuters
Mali court rejects appeal to release four Barrick employees, judge says
BAMAKO, July 22 (Reuters) - A court in Mali on Tuesday rejected an appeal by Barrick Mining ( opens new tab to release four employees arrested last November, judge Samba Sarr said, the latest development in a long-running standoff between the Canadian firm and the Mali government over taxes and ownership of mining operations in the country. The appeal by the company, which has dismissed the allegations against the four local employees as baseless, was determined by the judge to be "unfounded", said Alifa Habib Kone, a lawyer for Barrick. The employees face charges including money laundering and violation of other regulations, Kone said. Barrick has said it refutes the charges against its employees. Barrick and Mali's military-run government have been in negotiations since 2023 over the implementation of a new mining code that raises taxes and gives the government a greater share in the country's gold mines. Barrick owns 80% of the Loulo-Gounkoto mining complex in Mali and the government owns the rest. Operations have been suspended since mid-January after the government blocked Barrick's gold exports and seized three metric tons of its stocks. Malian authorities arrested the four employees in late November and they have been in pre-trial detention in Bamako, according to Barrick's website. Mali also issued an arrest warrant last December for Barrick CEO Mark Bristow who is based in Toronto. He is accused of money laundering and violating financial regulations, according to the warrant document. Governments in Mali, Burkina Faso and Niger - all led by juntas - are all seeking to renegotiate new terms with gold miners to gain a bigger share of mining revenue at a time when gold prices have soared. Mali represents 14% of Barrick's gold output and the company generated $949 million in revenue from its operations there in the first nine months last year.
Glasgow Times
3 days ago
- Entertainment
- Glasgow Times
Ye Olde Mitre, the 'fantastic' and 'historic gem' London pub
Ye Olde Mitre in Holborn is one of London's oldest pubs, dating back to 1546. On its website, the charming pub describes itself as a "wonderful historic London pub", adding that it "takes traditional pub-keeping seriously". Ye Olde Mitre has a Tripadvisor rating of 4.6 out of 5 from more than 200 reviews. The 'fantastic' historic London pub you need to visit On its website, Ye Olde Mitre shares that it was built for the servants of the Bishops of Ely and is most famed for its cherry tree. In the past, the pub once hosted Queen Elizabeth I, who is said to have danced in the venue with Sir Christopher Hatton. The pub still offers that same traditional charm with a classical interior. Ye Olde Mitre has a small food menu, offering a range of toasties and snacks. Toasties cost between £7 to £8 and include a cheese and tomato toastie and the cheese and black cab ham toastie with olives and pickled gherkins. For snacks at the pub, guests can enjoy the likes of Mr Barrick's pork pie, Mr Barrick's chicken and ham pie topped with cheddar or Mr Barrick's Edwardian pork pie. On Tripadvisor, one recent guest to Ye Olde Mitre described it as "a hidden oasis", sharing: "Has to be one of the coolest pubs in London. Recommended Reading "I am starting to believe beer tastes better when drinking in an alley." Another pub visitor said: "Magnificent gem down the lane way, if you can find it. Authentic old British pub with a ton of history." A third said: "What a wonderful old place, really old in fact. It is full of history and has a really cosy atmosphere."
