*

Operations at mining complex halted after Mali seized 3

metric

tons of gold

*

Barrick and Mali negotiating memorandum of understanding

to

resolve mining dispute

*

Mali holds 20% stake in Loulo-Gounkoto gold mining complex

(Adds details from paragraph 2 onwards)

BAMAKO, May 15 (Reuters) - A Malian court hearing

scheduled for Thursday on whether to put Barrick Mining's ( B )

Loulo-Gounkoto mining complex under provisional

administration has been postponed to May 22, the president of

the court said on Thursday.

Barrick Mining ( B ), previously called Barrick Gold ( B ), and Mali's

government have been at odds since 2023 over the implementation

of a new mining code that raises taxes and gives Mali's

government a greater share in the gold mines.

Mali's military government, like others in West Africa, says

it wants to increase its revenue from the mining sector as it

believes current arrangements are unfair and foreign

multinationals must comply with its demands if they want to keep

operating in the gold-rich country.

Barrick says it has invested heavily in the Malian economy

over more than 20 years and accuses the government of moving its

goal posts and asking for more money, as well as unfairly

detaining some of its executives in an attempt to blackmail the

company.

Most other multinational mining companies in Mali have

agreed to the new code. Australia's Resolute Mining ( RMGGF )

reached an agreement after its chief executive was detained for

over a week in Mali.

On Thursday, Bamako's Tribunal de Commerce court was due to

consider a request by the Malian state, which holds a 20% stake

in the Loulo-Gounkoto mining complex, to put the mines under a

provisional administration.

The aim of the request is to restart operations at the

complex, which have been suspended for months, according to a

person familiar with the matter.

Granting the request would represent a major escalation of

the dispute between the West African state and the Canadian

miner.

Operations at the mines were halted in mid-January after the

government seized around 3 metric tons of gold worth some $317

million at last week's price, accusing the company of not

fulfilling its tax obligations. The government had been blocking

Barrick's gold exports since early November.

Barrick denies any wrongdoing.

In its May 7 earnings update, Barrick said it had on April

17 received a notice from the government threatening to impose

provisional management unless the mines resumed operations by

April 20.

Barrick has said it can only resume operations when the

Malian government removes restrictions on gold exports.

The latest development comes as the two sides negotiate a

memorandum of understanding to resolve the dispute.

Barrick CEO Mark Bristow told Reuters this month that the

two sides had previously come close to reaching an agreement

three times.