Malian authorities have shut the Bamako office of Canadian mining firm Barrick Gold in a dramatic escalation of a dispute over tax obligations and mining revenue control.
The closure comes amid a broader standoff that began in 2023 following Mali’s introduction of a new mining code aimed at increasing state participation in the gold sector. Barrick, one of Mali’s major foreign investors, has been locked in negotiations with the government over how the legislation should be applied.
Government officials this week sealed the company’s capital office and warned that the suspended Loulo-Gounkoto mine could be placed under provisional administration if operations are not restarted and outstanding tax payments are not addressed.
Barrick, headquartered in Toronto, confirmed the developments in a statement, saying it had already signed an agreement proposed by the Malian government in February. However, the firm alleges that the agreement has yet to be honored by state officials.
“The conclusion of this agreement now appears to be blocked by a small group of individuals prioritizing personal or political interests over Mali’s long-term development,” the company stated.
The Loulo-Gounkoto complex, situated in western Mali, represents a vital source of gold output and government revenue. Its ongoing suspension, coupled with administrative threats, underscores the mounting friction between Mali’s push for sovereign control and foreign investors’ concerns over policy stability.
Despite the shutdown, Barrick reiterated its readiness to comply with the agreement and resume production without delay. The company emphasized its commitment to finding a resolution that supports both Mali’s economic goals and operational continuity.
This dispute highlights a growing trend across parts of Africa where governments are revisiting mining frameworks in pursuit of greater national benefit—often leading to legal uncertainty for multinational operators.