The second largest gold production company in the world threatens to stop mining in Mali due to disruption of operations at its mine
Barrick Gold Corp. announced… The Canadian company, which specializes in gold mining, said that it will be forced to stop mining in Mali soon, unless the country’s government stops disrupting exports and operations in its mine.
The company indicated – in a statement reported by “Bloomberg” news agency, today, Monday – that That a "temporary seizure order" against the gold stockpile at the mining site, without specifying which court made the decision, saying: “That order, coupled with the ongoing ban on exports, means that the company will have no choice but to temporarily suspend operations.” Unless the matter is resolved within the next week.”
The company confirmed that it will remain committed to dealing constructively with the government of Mali to resolve the existing disputes amicably.
 
Barrick Gold Corp, which is the second largest gold producing company in the world, had entered into a sharp dispute with the authorities in Mali over the distribution of revenues and profits from the complex. "Lulu-junkoto" The vast mining sector in the west of the country, and a court there issued an arrest warrant last month for CEO Mark Bristow. Negotiations became tense between the company and Mali regarding how to divide the profits from the “Loulo-Gonkoto” complex. During recent months, the country’s authorities arrested four local mining company employees and charged them, and the company began arbitration proceedings against the government.
Bloomberg said: "The country’s other major gold producers have already announced agreements that include larger payments to the state and higher royalty rates.
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