13 hours ago
A Mali judge orders a Canadian gold mining company placed under provisional administration
BAMAKO, Mali (AP) — A judge in Mali on Monday ordered the Canadian mining company Barrick Gold to be placed under provisional administration in an ongoing dispute with the military government over unpaid taxes.
Judge Issa Aguibou Diallo in a statement to Barrick's lawyers also announced the appointment within 15 days of Zoumana Makadji, an accountant and a former minister of health of Mali, as the company's provisional administrator.
Barrick Gold has been in conflict with Mali's military rulers over alleged unpaid taxes and unfair contracts with past governments. The dispute culminated in an arrest warrant in December for the CEO of Barrick and the company's offer to pay $370 million to the government.
'While Barrick's subsidiaries remain the legal owners of the mine, operational control has been transferred to an external administrator,' Barrick said in a statement on its website following the ruling.
In December, Barrick Gold submitted a request for arbitration to the International Center for Settlement of Investment Disputes (ICSID) to address disagreements concerning the Loulo-Gounkoto complex, where the mines are located.
Despite this, the government took a series of escalatory measures, including the arrest of Barrick Gold employees, who remain detained, and the suspension of gold exports.
Barrick emphasized that the arbitration process was still ongoing and reaffirmed its commitment to 'engaging with the government of Mali, in parallel, to identify a constructive, mutually acceptable solution.'
Barrick Gold has been present in Mali for three decades.
Mali is one of Africa's leading gold producers, but it has struggled for years with jihadi violence and high levels of poverty and hunger. The military seized power in 2020, and the government has placed foreign mining companies under growing pressure as it seeks to shore up revenues.
In November, the CEO of Australian company Resolute Mining and two employees were arrested in Bamako. They were released after the company paid $80 million to Malian authorities to resolve a tax dispute and promised to pay a further $80 million in the coming months.
