Home News Finance Four Employees of Canadian Mining Firm Arrested in Mali for Financial Crimes
FinanceNews

Four Employees of Canadian Mining Firm Arrested in Mali for Financial Crimes

791

Four employees of Canadian mining company Barrick Gold were reportedly arrested in Mali earlier this week. The arrests come amid rising tensions between Mali’s ruling junta and foreign mining companies.

The detained employees were reportedly senior Malian staff of Barrick Gold, the world’s second-largest gold miner, which co-owns the Loulo-Gounkoto gold complex in western Mali. Barrick Gold holds an 80 per cent stake in the complex, while the Malian state owns the remaining 20 per cent.

A judicial source, who spoke to Reuters anonymously, confirmed the arrests but did not disclose their names, roles, or reasons for the detention. Another source close to the company said a high bail has been set for their release but did not provide further details.

These arrests followed Mali’s recent efforts to tighten control over its mining sector. In August, the junta adopted a new mining code that allows the state to take up to a 30 per cent stake in new projects. The code removed previous tax exemptions granted to mining companies.

Barrick Gold earlier acknowledged tensions with Malian authorities in July but neither the company nor Malian authorities have officially commented on the recent arrests.

 

Read More:

Mali, Niger and Burkina Faso Open Investigation Against FRANCE24 Journalist for Terror Links in the Sahel

French Army Chief Admits Presence Of French Soldiers In Guinea, Mali’s Neighbouring Country

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

EducationNews

Nigeria Overhauls Technical Education Curriculum To Include Livestock, Aquaculture, Welding, And Fashion Design

The Federal Government of Nigeria has announced a reform of technical education,...

Ethiopia Inaugurates Africa’s Largest Hydroelectric Dam
NewsPolitics

Ethiopia Inaugurates Africa’s Largest Hydroelectric Dam

Ethiopia, a landlocked country located in the Horn of Africa region of...

national grid failure
News

Nigeria’s National Grid Collapses Again, Plunging Cities Into Darkness

The Nigerian national grid had suffered a collapse again on Wednesday, leading...

News

Malian Army Destroys Terrorist Base in Kayes Region

The Malian Armed Forces (FAMa) announced that they dismantled a major terrorist...