Mali points arrest warrant for Barrick Gold CEO, doc reveals

By Fadimata Kontao, Portia Crowe and David Lewis (JO:LEWJ)

BAMAKO (Reuters) -Mali, one in all Africa’s greatest gold producers, has issued an arrest warrant for Barrick Gold (NYSE:GOLD) Chief Govt Mark Bristow, a warrant doc seen on Thursday by Reuters confirmed, escalating a dispute with the Canadian mining firm.

The West African nation’s junta-led authorities is searching for extra earnings from the sector to bolster state revenues as costs of the valuable metallic rally and has detained mining executives to place strain on overseas firms working there.

4 senior native workers of Barrick had been briefly detained in September as the federal government demanded about $500 million in unpaid taxes, after which arrested once more final month pending trial.

Bristow advised Reuters in early November that the world’s No. 2 gold miner was assured of resolving claims and disputes with authorities earlier than the tip of the yr.

He’s accused of cash laundering and violating monetary rules, the warrant doc, first reported by Malian media and dated Dec. 4, confirmed. Its authenticity was confirmed by two sources near the matter who requested to not be recognized.

Barrick mentioned the corporate “is not going to be commenting” on the reported arrest warrant, responding to a Reuters request. Barrick’s shares had been down 2.9% on the Toronto inventory trade after the information.

Bristow, a South African nationwide who shuttles between Britain and the US, final travelled to Mali in July, in line with the corporate web site. Barrick has its headquarters in Toronto.

One other doc confirmed Mali had additionally issued an arrest warrant for Cheick Abass Coulibaly, common supervisor at Barrick’s Loulo-Gounkoto mining advanced in Mali.

Australia’s Resolute Mining additionally had its British CEO and two different workers detained by Mali’s military-led authorities over a tax dispute final month.

They had been launched after the miner agreed to pay $160 million.

The detentions and arrest warrants in Mali spotlight the challenges confronted by worldwide mining firms within the area, the place Burkina Faso and Niger have additionally elevated strain on them.

Burkina junta chief Ibrahim Traore mentioned in October the nation plans to withdraw mining permits from some overseas firms and can search to supply extra of its personal gold.

Niger has taken management of French nuclear fuels firm Orano’s Somair uranium mine, the corporate mentioned on Wednesday.

The three nations have shifted away from conventional allies akin to the US and former colonial energy France, and grown nearer to Russia, which helps present safety for his or her army leaders.