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Barrick says Mali government's attempt to take over its gold mine is 'unlawful'
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Barrick says Mali government's attempt to take over its gold mine is 'unlawful'
May 26, 2025 1:53 PM

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.

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