https://www.theglobeandmail.com/
Mali’s military junta has closed Barrick Gold Corp.’s national office and threatened to seize control of one of its biggest gold mines in a further escalation of a protracted tax dispute, the Toronto-based company says.
Barrick says it negotiated an agreement with the Malian regime in February to resolve the dispute, but the deal has been blocked by a small group of individuals for “personal or political reasons.” The company’s long-term future in the West African country is now at risk, it said.
In January, in response to the government’s seizure of three tonnes of gold from the mine, Barrick suspended operations at its massive Loulo-Gounkoto gold complex, which accounts for about 14 per cent of the company’s global earnings before interest, taxes, depreciation and amortization. Two months earlier, the government had banned any exports of gold from the mine.
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