Barrick Gold's Mali Dilemma: Detentions Amid Tax Disputes

Four senior employees of Canada's Barrick Gold have been detained in Mali over tax disputes as the military-led government seeks more revenue from mining operators. Barrick denies the charges and continues discussions with the government for a resolution. Mali demands $500 million in unpaid taxes.

In a tense development in Mali's mining sector, four senior employees of Barrick Gold from Canada have been detained over unresolved tax disputes. The military-led government aims to extract more revenue from the mining industry as it grapples with economic challenges.

Barrick Gold, one of the leading gold producers globally, has denied charges against its employees. The company is engaged in ongoing negotiations with the Mali government to reach an amicable solution and secure their release. The company's CEO expressed confidence in resolving the disputes by the end of the year.

As the Mali government intensifies its efforts to recover $500 million in unpaid taxes from Barrick, the country's finance and justice ministries are handling the case. Similar tensions were seen with Australia's Resolute Mining, which settled its tax dispute by agreeing to a $160 million payment.

(With inputs from agencies.)