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

Confidence UbaniSeptember 28, 20241 Mins read603

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.

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