Mali Temporarily Seizes Loulo-Gounkoto Mine, One of the World’s Largest, Amid Tax Dispute With Barrick Gold

A court in Mali has placed Barrick Gold’s Loulo-Gounkoto mining complex under provisional administration for six months. The move follows a long-running tax dispute between the Canadian company and the country’s government.

The decision, issued on Monday, June 16, orders that operational control of the mine be handed over to a court-appointed administrator. Barrick’s subsidiaries will remain the legal owners. Judge Issa Aguibou Diallo named Zoumana Makadji, a former Malian health minister and accountant, as the administrator. He is expected to assume control within 15 days.

The Loulo-Gounkoto complex, situated in western Mali, is one of the world’s largest gold mines. It is a key part of Barrick Gold’s operations in Africa. Along with its Kibali mine in the Democratic Republic of Congo, the complex ranks among the top ten globally, according to the company.

Mali’s government accuses Barrick of owing unpaid taxes and benefiting from unfair contracts signed with previous administrations. The dispute reached a breaking point in December 2024. Authorities issued an arrest warrant for Barrick CEO Mark Bristow. The company then offered to pay $370 million to the government in a bid to resolve the conflict.

Despite this, tensions have continued to rise. The government shut down Barrick’s offices in Bamako and suspended its gold exports. Several employees were arrested and remain in detention. Barrick described the arrests as unjust and politically motivated.

In December, Barrick filed for arbitration at the International Centre for Settlement of Investment Disputes (ICSID). The company stated that it remains committed to engaging with Mali’s government in parallel with the legal process to find a constructive solution.

However, a government source told AFP that the court ruling aims to protect national economic interests and avoid the sudden closure of the mine in the absence of a revised agreement.

Mali is one of Africa’s top gold producers. Since the military took power in 2020, the government has increased pressure on foreign mining firms. It is seeking to boost state revenues amid rising economic challenges.

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