Mali’s military administration has begun confiscating gold reserves belonging to the Canadian mining firm Barrick, amid an ongoing legal dispute regarding the revenue share owed to the West African nation, as indicated in an internal letter from Barrick reviewed by The Associated Press.
In a letter dated Monday, CEO Mark Bristow addressed the Malian Mining Minister, stating that Barrick is “awaiting official confirmation of the proper receipt by the Malian Solidarity Bank,” which is a government institution.
This action follows a warning issued earlier this month by Mali’s senior investigating judge, Boubacar Moussa Diarra, indicating that three tons of gold would be seized.
On Monday, a senior manager at Barrick confirmed that the military government had indeed seized three tons of gold, which has been relocated to the capital, Bamako. The manager requested anonymity due to restrictions on public statements.
The senior manager reported that the gold was extracted from a mine located near Kayes in the western region and was transported to the capital via plane and truck late Saturday.
The Malian authorities have not yet provided a response to requests for comment.
The gold, valued at approximately $180 million, is central to the ongoing dispute over the revenues owed to the state.
In December, Mali issued an arrest warrant for Bristow on charges of money laundering, without presenting evidence, and ordered the confiscation of Barrick’s gold reserves. The company has proposed a payment of $370 million.
Previously, Mali’s military government detained four senior executives from the Canadian mining company as part of this dispute, and they remain in custody.
Mali ranks among Africa’s top gold producers but has faced persistent challenges, including jihadist violence and significant levels of poverty and hunger. The military took control in 2020 and has increasingly pressured foreign mining companies to enhance state revenues.
In November, the CEO of Resolute Mining, an Australian firm, along with two of its employees, was detained in Bamako. They were subsequently released after the company agreed to pay $80 million to the Malian authorities to settle a tax disagreement and committed to an additional $80 million payment in the following months.
