The demands on Barrick follow an audit of mining contracts last year and a subsequent push by Mali to renegotiate agreements with mining firms, including B2Gold (TSX: BTO), Resolute Mining (ASX, LON: RSG) and Allied Gold (TSX: AAUC), to channel a greater share of revenues into state coffers under a new mining code.
Under the new code, the percentage of Malian state and private interest in projects could rise from 20% to 35%. The law also aims to reduce tax breaks and increase the number of Malians in management roles.
Three sources told Reuters that Barrick, which runs the Loulo-Gounkoto mines in western Mali with an 80% stake, had been presented a bill for at least 300 billion CFA.
One of the sources, a consultant working with mining companies in Mali, said the bill was primarily for retroactive tax adjustments and unpaid dividends. Another source, who works with mining companies and the Malian government, confirmed the figure,…
