Mali Temporarily Seizes Control of Gold Mine

(MENAFN) The government of Mali has provisionally taken control of the country’s most significant gold mining site from the Canadian company Barrick, as tensions intensify over claims of unpaid levies and dues.

On Monday, a tribunal in Bamako decided that supervision of the Loulo-Gounkoto gold site, located in western Mali, should be transferred for six months to an interim manager chosen by the state.

Judge Issa Aguibou Diallo of the Bamako Commercial Tribunal confirmed that Soumana Makadji, a former health minister and trained accountant, would oversee operations during this timeframe.

This ruling comes after the Malian authorities shut down Barrick’s headquarters in the capital and threatened to assume control of the mine, which has remained dormant for several months.

The ruling military administration justified its actions as essential for sustaining activity at the site and safeguarding the nation’s financial priorities.

On the other hand, Barrick strongly criticized the verdict, calling it unlawful and a violation of its official arrangements.

“This ruling follows actions by the Malian government to block gold exports and seize gold stocks belonging to Barrick’s subsidiaries – measures Barrick believes to be unjustified and which led to the temporary suspension of operations,” the mining giant said in a statement.

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