Mali's Military Government Seizes Barrick's Gold in Revenue Dispute

Mali's military government has seized three tonnes of gold from Canadian company Barrick amid a legal battle over owed revenues. The gold, valued at USD 180 million, was transported to Bamako, Mali's capital. Barrick faces charges, including an arrest warrant for CEO Mark Bristow, as part of the dispute.

Mali's military government has escalated its dispute with Canadian mining company Barrick by seizing three tonnes of gold, valued at around USD 180 million, according to an internal Barrick letter obtained by The Associated Press. The seizure is part of a legal battle over revenue shares owed to the West African nation.

An internal letter, sent by Barrick CEO Mark Bristow to Mali's Mining Minister and dated this week, indicates that the company is waiting for confirmation on the handling of the gold by Mali's Solidarity Bank. This move follows a warning from Mali's senior investigating judge about the impending seizure.

During the weekend, the gold was taken from a Barrick mine near Kayes and transported to the capital, Bamako, by air and land transport. Mali has not commented publicly on the incident, which is part of wider disputes involving foreign mining companies as the government tries to boost its revenues.

(With inputs from agencies.)