A judge in Mali has placed Canadian mining company Barrick Gold under provisional administration in an ongoing dispute with the military government over alleged unpaid taxes
ByBABA AHMED Associated Press and WILSON MCMAKIN Associated Press
BAMAKO, Mali — A judge in Mali on Monday ordered Barrick Gold’s Loulo-Gounkoto gold complex to be placed under provisional administration for six months in an ongoing dispute between the Canadian mining company and the West African nation’s military government over unpaid taxes.
Zoumana Makadji, an accountant and a former Malian minister of health has been appointed as the company’s provisional administrator within 15 days, Judge Issa Aguibou Diallo said in a statement to Barrick’s lawyers.
Barrick’s website said the company is Africa’s largest gold producer through its Loulo-Gounkoto complex and Kibali mine located in Congo.
Barrick Gold has been in conflict with Mali’s military rulers over alleged unpaid taxes and unfair contracts with past governments. The dispute culminated in an arrest warrant in December for Barrick CEO Mark Bristow and the company’s offer to pay $370 million to the government.
“While Barrick’s subsidiaries remain the legal owners of the mine, operational control has been transferred to an external administrator,” Barrick said in a statement on its website following the ruling.
In December, Barrick submitted a request for arbitration to the International Center for Settlement of Investment Disputes to address disagreements