Mali's Resource Nationalism: The Barrick Gold Standoff

Mali demands $200 million in back taxes from Barrick Gold, amid claims of money laundering. Inside support from former company executives drives negotiations. The standoff highlights military-led West African countries pushing for resource nationalism, impacting global investors. The dispute also illustrates ongoing tensions with Barrick's international operations.

Two ex-executives from Barrick Gold are at the forefront of Mali's demand for a hefty tax settlement, $200 million, from the Canadian mining giant. The claims, tied to allegations of money laundering and terrorism financing, have been rejected by Barrick, intensifying Mali's standoff with global investors.

Mali's military-led regime confiscated gold worth $245 million from Barrick, expecting resolution by Saturday midnight. The outcome is symptomatic of resource nationalism trends across West Africa's new military governments, which aim to secure better mining revenues from foreign companies.

While some mining corporations reached swift agreements with Mali, Barrick's negotiations soured. Arrests and asset seizures, however, might not spell an end as talks persist, showcasing the resilience and complexity of transnational negotiations in resource-rich regions.

(With inputs from agencies.)