![President of Mali Général d'Armée Assimi Goïta](https://i0.wp.com/oneafricanewstoday.com/wp-content/uploads/2024/11/Mali-apres-lONU-la-CNDH-soppose-a-la-decision-dAssimi-Goita-1024x683-1.jpg?resize=640%2C427&ssl=1)
In a bold move reflecting a growing push for resource sovereignty, Mali’s military government has seized three tonnes of gold from Canadian mining giant Barrick Gold Corporation, valued at approximately $180 million. This escalation stems from a legal battle over revenue owed to the state under Mali’s newly introduced mining code.
The seized gold was transported from Barrick’s Loulo-Gounkoto mining complex near Kayes to the capital, Bamako, on Saturday. The military government executed the attachment order amid allegations of unpaid taxes and outstanding revenues.
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The Loulo-Gounkoto complex, one of Mali’s largest gold mines, contributes between 5% and 10% of the nation’s GDP and employs over 8,000 workers. However, Barrick has been unable to ship gold from the site for seven weeks due to government-imposed restrictions, prompting the company to announce a temporary suspension of operations.
Escalating Tensions Between Mali and Foreign Mining Firms
Mali, a leading gold producer in Africa, has experienced heightened tensions between its government and international mining companies. The military junta, which assumed power in a 2020 coup, introduced a new mining code in 2023 aimed at securing a larger share of mining revenues. This has led to disputes with several foreign firms, including Barrick and Australia-listed Resolute Mining.
Barrick CEO Mark Bristow faces an arrest warrant in Mali on charges of money laundering, issued in December without public evidence. Four Barrick employees were detained last year, and the company has since been negotiating with authorities over alleged back taxes amounting to $350 million.
![Barrick CEO Mark Bristow](https://i0.wp.com/oneafricanewstoday.com/wp-content/uploads/2025/01/Mark-Bristow-leopard-0.jpeg?resize=640%2C480&ssl=1)
In October, Barrick paid $85 million to the Malian government, yet no agreement has been reached regarding the additional demands. Resolute Mining similarly resolved a tax dispute in 2022 by paying $160 million after its executives were detained in Bamako.
A Struggle for Resource Sovereignty
The Malian government’s actions reflect a broader trend across Africa’s “coup belt,” including Burkina Faso and Niger, where military regimes are pushing for greater control over natural resources. The seizure of Barrick’s gold comes amid efforts to renegotiate agreements signed under previous administrations, which many African governments argue disproportionately benefit foreign companies.
Civil society groups in Mali have supported these moves, emphasising the need to ensure that resource wealth contributes directly to the nation’s development. Mali continues to face significant economic challenges, including widespread poverty and ongoing armed conflict with jihadist groups.
Industry Impacts and Next Steps
Barrick’s suspension of operations at Loulo-Gounkoto is a significant blow to Mali’s economy. The mine is one of Barrick’s largest assets globally, producing its second-highest output of gold in 2023 after its operations in Nevada, USA.
While Barrick has expressed its commitment to resolving the dispute through dialogue, the situation underscores the risks faced by international mining companies operating in Africa’s resource-rich nations. The company said it remains focused on finding a “mutually beneficial solution” with the Malian government, highlighting the importance of sustainable partnerships.
The Fight for Equitable Mining Practices
Environmental activists and local communities have long called for stricter regulations to ensure mining activities benefit the Malian people. The recent actions by the military government signal a growing determination to address these demands, even as the country navigates a challenging socio-political landscape.
As negotiations continue, Mali’s approach to its natural resources will likely shape its relationship with foreign investors while serving as a potential model for other African nations seeking to reclaim control over their wealth.
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