Document reveals Mali arrest warrant for Barrick Gold CEO

Mali has issued an arrest warrant for Barrick Gold CEO Mark Bristow, according to a document seen on December 5th by Reuters.

The junta ruling Mali, one of Africa’s biggest gold producers, is seeking more income from the gold sector to increase state revenues as prices of the precious metal improve, and has detained mining executives to exert pressure on foreign companies operating there.

Four executives from Barrick Gold were arrested earlier this year, though at the time Bristow said he was confident of resolving the dispute with Malian authorities.

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The document dated December 4th accuses him of money laundering and violating financial regulations. Its authenticity was confirmed by two sources close to the matter who asked to not be identified.

Barrick said they “will not be commenting” on the reported warrant, responding to a request by Reuters. Barrick’s shares were down 2.9% on the Toronto stock exchange following the news.

Bristow is a national of South Africa who shuttles between Britain and the US, and last travelled to Mali in July, according to the company website.

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A separate document showed Mali had also issued an arrest warrant for Cheick Abass Coulibaly, general manager at Barrick’s Loulo-Gounkoto mining complex in the country.

The British CEO of Australia’s Resolute Mining was also detained along with two other employees last month over a tax dispute, but they were released after the miner agreed to pay $160 million.

Mali is not the only country putting pressure on mining companies. Burkina junta leader Ibrahim Traore said in October of his country’s plans to withdraw mining permits from some foreign companies and will seek to produce more of its own gold, while Niger has seized control of French nuclear fuels company Orano’s Somair uranium mine, the company said on December 4th.

The three countries have moved away from traditional alliances with states like the United States and former colonial power France, and grown closer to Russia.

Reuters

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