Latest news with #provisionaladministration
Bloomberg
11-07-2025
- Business
- Bloomberg
Mali Seizes Barrick Gold as Junta Leader Claims Indefinite Rule
Mali's government seized more than a ton of gold from Barrick Mining Corp., days after the West African nation's junta leader signed a law granting himself a mandate renewable forever. State helicopters landed ' unannounced ' and took the equivalent of about 35,000 ounces of bullion 'potentially for sale by the provisional administration — though that remains to be seen and the situation is evolving,' the Toronto-based Barrick said in a statement. The seized amount is worth about $117 million, with gold trading at around $3,324 per ounce on Friday.
Bloomberg
16-06-2025
- Business
- Bloomberg
Mali Court Puts Barrick Gold Mine Under Six Months State Control
A Malian court ruled that Barrick Mining Corp.'s Loulo-Gounkoto gold mining complex should be placed under provisional administration for six months, handing control of one of the Canadian company's biggest operations to state-appointed management. The decision on Monday comes after Mali closed Barrick's offices in the capital Bamako and warned it would take control of the mine, which has been shuttered owing to a months-long dispute over mine dividends, unless it was reopened and tax payments made.
