The issues at stake in the new round of negotiations are Mali’s demanding $199 million, Barrick’s agreeing to the new mining code and the release of the seized gold, according to people aware of the development who did not wish to be quoted as they are not authorized to speak about the issue.
Shares of Barrick closed at C$23, down by 0.2% at the Toronto Stock Exchange on Monday.
Barrick declined to comment and the Mali government did not respond to requests for comment by Reuters.
Governments in Mali, Burkina Faso and Niger — all led by juntas — are all seeking to renegotiate new terms with gold miners to gain a bigger share of mining revenue at a time when gold prices have hit record highs.
The dispute between Mali and Barrick is over the country’s new mining code that came into effect in 2023. The mining code gives the state a bigger share of mining revenues and removes tax exemptions for mining…
