By Ollus Ndomu
Authorities in Mali have closed the Bamako offices of Canadian mining giant Barrick Gold amid an escalating dispute over alleged unpaid taxes and the implementation of the country’s revised mining code, officials said Friday.
The move marks the latest development in a long-running standoff between the Toronto-based company and Mali’s military-led government, which has been pushing for greater state control over natural resources since a series of coups in 2020 and 2021.
Mali’s government accuses Barrick Gold of failing to comply with tax obligations under the new mining code adopted in 2023. The code grants the state an increased stake in mining ventures and higher revenue shares, part of efforts to bolster public finances and assert national sovereignty over resource wealth.
Barrick Gold has not yet issued a formal response, but the company has previously denied any wrongdoing and said it continues to engage in good faith negotiations with the government.
Since November, the Malian authorities have blocked gold exports from Barrick’s operations, dealing a blow to the company’s logistics and revenue flow in one of Africa’s top gold-producing nations.
Barrick operates the Loulo-Gounkoto complex in western Mali, one of the country’s most significant mining assets. The company has long maintained that it is in full compliance with its fiscal obligations and investment agreements.
The closure of its Bamako offices underlines mounting tensions between foreign investors and Mali’s transitional government, which is seeking to renegotiate the terms of engagement in key sectors of the economy.
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