Malian Government Seizes Gold from Barrick Gold Amid Tax Dispute

The Malian government has seized several tons of gold from Canadian mining company Barrick Gold as part of a prolonged tax dispute involving unpaid royalties estimated at hundreds of billions of CFA francs.

Authorities have accused mining companies of owing between 300 and 600 billion CFA francs in taxes, demanding that Barrick Gold pay nearly $500 million.

While agreements were reached with other operators, negotiations with Barrick Gold failed, leading to the precautionary seizure of its gold.

Barrick Gold criticized the move as an “extreme measure” and labeled it “illegal” in a public statement.

The company also hinted at the possibility of suspending its operations in Mali.

Finance Minister Alousseni Sanou defended the government’s actions, citing the need to ensure tax compliance as a national priority.

The dispute has escalated further with the issuance of an arrest warrant for Barrick’s CEO and the detention of local executives.

 

 

 

 

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