Canadian gold giant Barrick (TSX: ABX) (NYSE: B) is pushing back against an attempt by the Malian government to wrest control of the Loulo-Gounkoto mine complex away from the company.
Mali earlier this month formally asked a local court to impose provisional administration over the site – a request that Barrick opposes. A ruling by the President of the Bamako Commercial Tribunal following submissions made on May 22 is due June 2, Barrick said Monday in a statement.
Barrick suspended operations at Loulo-Gounkoto, the company’s largest African asset, in January after Mali’s government seized around three tonnes of gold over alleged unpaid taxes.
Four Barrick employees have been held for over five months, a move that the company calls “unlawful,” and authorities have been blocking the company’s gold exports since November.
“There is no basis – either in law or in practice – for the…
