TORONTO, May 26 (Reuters) - Canadian miner Barrick
Mining ( B ) said an attempt by the Mali government to take
over the company's Loulo-Gounkoto gold mine in the country is
"unlawful".
Mali's military-led interim government has asked the local
court to appoint a provisional administrator to take over
Barrick's mine, which it suspended in January over the alleged
non-payment of taxes. Barrick has denied those charges.
The local Bamako court is expected to rule on June 2 on the
government's request to appoint a provisional administrator.
"The attempt to interfere with Loulo-Gounkoto's operations
is without precedent or lawful justification. It disregards
Barrick's rights under both Malian law and binding agreements,
and it is inconsistent with the principles of due process and
mutual respect that should underpin partnerships between
governments and long-term investors," Barrick said in a
statement.
It added that the company has reiterated its commitment to
reach a satisfactory agreement.
The Mali government did not immediately respond to a request
for comment.
Mali's military government, like others in West Africa, says
that it wants to increase its revenue from the mining sector as
it believes current arrangements are unfair, and that foreign
multinationals must comply with its demands if they want to keep
operating in the gold-rich country.
Most mining companies in Mali have yielded to the
government's demands, except Barrick. The company has repeatedly
said it has invested heavily in the Malian economy over more
than 20 years. It accuses the government of moving its goal
posts and asking for more money, as well as unfairly detaining
some of its executives in what it says is an attempt to
blackmail the company.