Barrick Gold refutes claims of wrongdoing from Mali government
The Canadian mining company Barrick Gold has denied claims from Mali’s military government that they have breached a recent agreement, according to Reuters.
On the 24th October the worlds second largest gold miner said it did “not accept any claims of wrongdoing” and has acted in “good faith”.
The agreement was signed on the 30th September to resolve disputes over the Loulo and Gounkoto gold mines, just days after Mali authorities briefly detained four Malian Barrick staff.
However, in a joint statement on the 23rd October, Mali’s economy and mines ministries said the company had “not honoured the commitments to which it subscribed in the agreement.”
The alleged the breaches included those relating to environmental and corporate social responsibility, and foreign exchange rules.
The ministries warned there were “serious risks” to Barrick’s continued operations in Mali, referencing a license that expires at the beginning of 2026.
They added: “The Malian government has decided to draw all legal consequences arising from the actions taken by Barrick Gold”.
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In response, Barrick refuted the allegations, saying it had been actively engaged with the government to reach a settlement since the agreement.
The settlement, they assured Mali, would include an increase in the state’s share of economic benefits from the Loulo-Gounkoto complex.
They said: “While Barrick does not accept any claims of wrongdoing, it has chosen to act in good faith as a long-standing partner of Mali.”
The company added it had already paid the government $85 million in early October as part of the ongoing negotiations.
Earlier this month, three sources told Reuters that Mali was seeking at least 300 billion CFA francs ($512 million) in outstanding taxes and dividends from Barrick.
When approached for comment at the time, a Barrick spokesperson said the company was still in the process of negotiation.
Reuters
