Canadian mining giant Barrick Gold has filed for international arbitration to resolve a dispute with the Malian government over the Loulo-Gounkoto gold mine. The conflict stems from new mining regulations introduced by Mali, which Barrick Gold believes could lead to the closure of the mine. The company has expressed its concerns over these regulations, claiming that they could severely affect the mine’s production.
In response to the dispute, Mali’s government has issued an arrest warrant for Barrick’s CEO, as tensions between the two parties escalate. Mali has also introduced higher taxes on gold mining operations, which it says will boost national revenue. However, Barrick argues that the new taxes and regulations are detrimental to their operations and could potentially harm both the mine’s productivity and the broader business environment. The company has made it clear that if the issue is not resolved, it will seek legal redress through international arbitration.
