One of Africa’s largest gold producers, Mali, has tightened supervision within the country’s mining sector with a new appointment..af, under Assimi Goïta, has created a new ministerial-level role in Mali’s lucrative mining sector.
The new office would be in charge of supervising the sector, indirectly fostering the president’s direct control over the country’s gold industry.
The dispute, which began from Mali’s aspiration to have more autonomy over its resources, erupted after Malian officials took three metric tons of Barrick’s gold, worth around $400 million, in a military helicopter operation carried out under a judicial confiscation order, in January, 2025.
As a result, Barrick said the seizure negated its insurance coverage and necessitated a temporary suspension of operations.
In 2024, Mali claimed almost $500 million in overdue taxes from Barrick, but the firm claims it operated lawfully and paid the government $85 million in October of the same year.
The gold taken in the military helicopter was kept in a bank vault in Bamako for nearly a year before an agreement was reached.
Under the settlement, Barrick agreed to pay around $430 million to resolve outstanding claims and withdraw its international arbitration cases against Mali.
In return, Mali dropped charges against the company, released four Barrick employees detained since November 2024, and ended the provisional administration imposed on the mining complex.
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