(Bloomberg) — Mali’s military-controlled government has issued an arrest warrant for money laundering against Barrick Gold Corp. Chief Executive Officer Mark Bristow amid an escalating dispute over mine revenues in the West African nation.
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The authorities in Mali are also seeking to arrest Abbas Coulibaly, the general manager of the Canadian mining company’s Loulo-Gounkoto complex, according to people familiar with the matter.
Four Barrick employees were arrested last month in a spat over how to divide the economic benefits of Mali’s biggest gold mine. Barrick issued a statement on Nov. 26 refuting the charges against its workers and saying it will continue to engage with the Malian government to find an amicable settlement that would ensure the long-term sustainability of the operations.
Mali hasn’t disclosed its exact demands, though Barrick has offered $370 million to settle a tax claim arising from a government audit. The cash-strapped military junta has threatened to take back Barrick’s Loulo mine concession when the current permit expires in 2026.
Spokespeople for Mali’s finance ministry and justice ministry couldn’t be reached for comment. Barrick declined to comment.
The warrant for Bristow comes after Resolute Mining Ltd. CEO Terry Holohan and two other employees were arrested last month. They were released after the company agreed to pay $160 million to resolve a tax dispute.
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