Mali’s government has placed Canada’s Barrick Gold Loulo-Gounkoto mining complex under provisional administration for six months, intensifying a months-long standoff over alleged unpaid taxes.
The court decision, announced Monday (16 June), hands operational control of one of Africa’s largest gold mines to a state-appointed administrator. Judge Issa Aguibou Diallo named former health minister Zoumana Makadji to assume control within 15 days. The move follows a series of confrontations, including the closure of Barrick’s offices in Bamako, suspension of gold exports, and the detention of company employees. Barrick has been locked in a dispute with Mali’s military junta over alleged unpaid taxes and unfair contracts with past governments. An arrest warrant issued in December 2024 for Barrick CEO Mark Bristow marked an earlier peak in tensions. Barrick, which has operated in Mali for over 30 years, denies wrongdoing and says it offered $370 million to resolve the dispute.
The Canada-based gold and copper producer has filed for international arbitration and pledged to continue negotiations with Mali’s junta-led government, while also appealing the court’s latest decision. Mali’s military regime, in power since 2020, has increased pressure on foreign firms as it seeks to raise state revenues. A government source told AFP the ruling is intended to “protect national economic interests.” Barrick warns the decision risks damaging investor confidence. The company protested against “the ongoing detention of (our) employees — who remain unjustly imprisoned and used as leverage in this process,” calling for transparency and accountability in ongoing talks.