A Malian court has placed the Loulo-Gounkoto gold complex, operated by Canada’s Barrick Mining, under provisional administration for six months amid an ongoing tax dispute with Mali’s military government, according to French broadcaster France 24.
Judge Issa Aguibou Diallo informed Barrick’s legal team on Monday that Zoumana Makadji, a former health minister and accountant, has been appointed as provisional administrator. Makadji is expected to assume control within 15 days.
While Barrick’s subsidiaries retain ownership of the mine, operational control has effectively shifted to the appointed external administrator, the company said in a statement.
Barrick condemned the ruling as “unjustified,” linking it to recent government actions that blocked gold exports and seized gold stocks belonging to its subsidiaries, which have led to a temporary suspension of mining activities.
The company also expressed “deep concern” over the detention of its employees, describing them as “unjustly imprisoned and used as leverage” in the dispute.
Barrick confirmed that arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID), initiated in December, are ongoing. The company emphasized that the tribunal’s review is particularly critical in light of the recent court decision.
Africa’s largest gold producer has been in conflict with Mali’s military rulers over alleged unpaid taxes related to the Loulo-Gounkoto mine, which ranks among the world’s top 10 gold-producing sites, alongside Barrick’s Kibali mine in the Democratic Republic of the Congo. The dispute escalated to the issuance of an arrest warrant for Barrick CEO Mark Bristow and a $370 million settlement proposal.
Mali has been under military rule following successive coups in 2020 and 2021. The country continues to face a protracted political and security crisis fueled by armed insurgencies and separatist movements since 2012.
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