https://news-pravda.com/world/2024/12/08/907909.html

Mali has issued an arrest warrant for Canadian mining firm Barrick Gold Chief Executive Officer Mark Bristow over money laundering.

The case is related to control of the country's vast gold reserves, estimated at 800 tonnes – the largest in West Africa after Ghana.

What's behind Mali's spat with the mining company?

The demands followed Mali's audit of mining contracts with major Western companies in 2023, along with a push to renegotiate those agreements under the 2023 Mining Code to yield greater revenues for the nation.

The 2023 audit revealed that Barrick Gold owes $512 million in taxes, fines and unpaid dividends to Mali, coinciding with the introduction of a new mining code that increases the state's interest from 20% to 35%.

Major Western miners involved in the dispute include Barrick, Bing2Gold and Allied Gold, as well as Australia's Resolute Mining.

According to Bloomberg, Mali is discussing the transfer of $840 million to the state by those firms following the audit and changes to mining laws.

Reportedly, Barrick is the only company that has yet to strike a new deal with the Malian government. Others have begun to settle the dispute.

In November, Resolute CEO Terry Holohan and his colleagues were arrested in Mali and only released after the firm paid $160 million it owed the government.

Mali has been reviewing its deals with the West over the past few years to gain more control over national resources and strengthen its sovereignty.