Mali’s military government is demanding over 300 billion CFA ($512 million) from Barrick Gold in unpaid taxes and dividends, according to three sources familiar with the issue. The move follows an audit of mining contracts and reflects Mali’s efforts to increase revenue from mining operations.
In late September, the Canadian mining giant, which operates the Loulo-Gounkoto mines in Mali, reached a tentative agreement with the government to resolve outstanding disputes. This comes amid a broader push by Mali to renegotiate mining contracts with firms like Resolute Mining and Allied Gold under a new mining code aimed at boosting the state’s stake in projects from 20% to 35%.
Malian authorities previously detained four local Barrick employees as part of their efforts to enforce compliance. Barrick has contested the $417 million tax bill it received but confirmed paying $17 million as part of an interim deal. Meanwhile, the government believes Barrick’s liabilities may total as much as 500 billion CFA.
The standoff is part of a larger trend across Africa, where governments are seeking greater control over mineral resources.
