https://www.theglobeandmail.com/
Barrick Gold Corp. chief executive Mark Bristow says the Canadian gold miner is prepared to fork over to Mali more than half of the economic spoils from mining in the country, as it toils to put an end to yet another fiscal dispute with an overseas government.
Toronto-based Barrick over the past few years has bounced from one fiscal dispute to another with several host countries over taxes, royalties and joint-venture stakes in its mines overseas. After patching up disputes that lasted for years with both Tanzania in East Africa and then Papua New Guinea in the southwestern Pacific, Barrick this year has tangled with Mali’s military junta in West Africa.
Mali last year introduced a new mining code aimed at imposing higher royalties on foreign companies operating in the country and taking up to a 35-per-cent ownership stake in mines. The split between Barrick and Mali in the Loulo-Gounkoto mining complex is currently 80-20 in favour of the Canadian miner. Barrick has pushed back on the new mining code and challenged an audit of the company’s operations.
For the rest of this article: https://www.theglobeandmail.com/business/article-barrick-gold-mali-fiscal-dispute/