Mali's Military Government Arrests Senior Barrick Gold Employees Amid Financial Crime Allegations

Mali's military-led authorities have arrested four senior employees of the Canadian mining company Barrick Gold for alleged financial crimes. The arrests come amid increased pressure on international miners by the Malian junta, which has been in power since 2020 and is seeking to increase government revenue from gold production.

Mali's military-led authorities have detained four senior employees of the Canadian mining company Barrick Gold on suspicions of financial crimes, two sources disclosed on Friday.

Barrick Gold, the second-largest gold miner globally and a major producer in Mali, has faced heightened pressure since a junta took control of the country in 2020. A regional government official, speaking anonymously, confirmed the arrests tied to alleged financial misdeeds.

Barrick provided no comment on the situation, and Malian authorities have yet to respond. Another source within Mali's mining industry confirmed that all four detained individuals are senior Malian employees of Barrick.

As one of Africa's top gold producers, Mali's junta government has been striving to divert a higher percentage of gold revenues into state accounts. This economic shift includes a new mining code granting the government increased ownership stakes in gold operations. Furthermore, Mali's authorities have realigned their international relationships, opting for closer ties with Russia while distancing from long-standing Western allies such as France.

In 2022, Mali struck a deal with Russia to establish a gold refinery in its capital, Bamako, and forged an agreement with the Russian state nuclear energy firm Rosatom for mineral exploration and nuclear energy production.

(With inputs from agencies.)