Suspension of shipments from one of the company’s biggest international gold mines is the latest twist in a worsening conflict between Barrick and the junta that seized power in a 2021 coup
says it will be forced to suspend its mining operations in Mali if the military regime continues to block gold shipments from one of the company’s biggest international gold mines.
Copies of the arrest warrant, posted online by Malian journalists, showed that Mr. Bristow was being charged with money-laundering and violating Mali’s financial regulations during the period from 2019 to 2023. Similar charges were also issued against Abbas Coulibaly, CEO of the Loulo-Gounkoto complex.
In November, the authorities arrested three employees of Australian-based Resolute Mining, including its CEO, Terence Holohan, and held them in custody for more than a week, until the company promised to pay US$160-million to resolve a tax dispute. Barrick says it has invested more than US$10-billion in Mali over the past three decades, contributing about 5 to 10 per cent of Mali’s GDP annually, including more than US$1-billion last year. It says it has 8,000 workers in Mali.
Mali has forged close links to Moscow in recent years, recruiting an estimated 1,000 Russian soldiers to boost security in the country. This has opened the door to greater Russian business dealings in the country, including in the mining sector, but Barrick has denied speculation that Russia might be seeking a stake in Barrick’s gold operations.
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