Mali accuses Barrick of not living up to its commitments as mining dispute flares up again

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Mali accuses Barrick of not living up to its commitments as mining dispute flares up again
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Toronto-based miner says it has paid US$85-million to the Mali government as negotiations on its interests in Mali continue

of not honouring commitments in the country as uncertainty mounts over whether both sides can reach a binding fiscal agreement.

in which Barrick is criticized for not living up to commitments it made following the Sept. 30 tentative agreement. The allegations were centred around Barrick’s societal and environmental footprint. The ministers said there are “serious risks” around Barrick being able to continue to operate in Mali

Mali last year introduced a new mining code aimed at imposing higher royalties on foreign companies operating in the country and taking up to a 35-per-cent ownership stake in mines. The ownership between Barrick and Mali of the Loulo-Gounkoto mining complex is currently split 80-20 in favour of the Canadian miner.

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