A Malian court has rejected an appeal by Canadian mining giant Barrick Mining to release four local employees arrested last November, deepening the legal standoff between the company and Mali’s military-led government over taxes and mining ownership.
Judge Samba Sar ruled on Tuesday that the appeal was “unfounded,” according to Alioufa Habib Koné, Barrick’s legal representative. The four employees are facing charges including money laundering and violations of financial regulations — allegations the company has categorically denied.
Barrick, which owns 80% of the Loulo-Gounkoto gold mining complex in Mali (with the government holding the remaining 20%), called the charges against its staff “baseless.” The employees remain in custody in Bamako pending trial.
Tensions between Barrick and the Malian authorities have escalated since 2023, when the government began pushing to implement a new mining code. The law increases taxes on foreign miners and gives the state a larger stake in gold operations.
The dispute came to a head in January when the government halted exports from the Loulo-Gounkoto site and confiscated three metric tons of gold. Operations at the mine have been suspended since mid-January.
Adding to the strain, Malian authorities issued an arrest warrant in December for Barrick CEO Mark Bristow, who resides in Toronto, on allegations of money laundering and regulatory breaches.
The developments in Mali are part of a broader regional trend, as military governments in Mali, Burkina Faso, and Niger seek to renegotiate terms with gold mining companies amid soaring global gold prices. The three countries aim to increase their share of revenue from the lucrative sector.
Mali alone accounts for roughly 14% of Barrick’s global gold output. The company generated $949 million in revenue from its Malian operations in the first nine months of last year.
