Mali vs. Barrick Gold: A High-Stakes Tax Dispute

A Malian judge has mandated provisional administration for Barrick Gold's Loulo-Gounkoto complex, intensifying a tax dispute with the nation's military-led government. The judge assigned Zoumana Makadji, an accountant and former health minister, as the provisional administrator, as part of actions against the Canadian mining giant.

The conflict between Barrick and Mali's rulers over alleged unpaid taxes and questionable past contracts has escalated. December saw an arrest warrant for Barrick CEO Mark Bristow and an offer from the company to settle $370 million with the government.

Barrick, maintaining legal ownership, braces for an international arbitration process while expressing concerns about the government's hardline measures, including employee detentions and an export halt. These developments arise as Mali seeks to bolster revenues amidst ongoing security and economic challenges.

(With inputs from agencies.)