19:56:53 EDT Thu 31 Oct 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,755,636,101
Close 2024-04-12 C$ 24.63
Market Cap C$ 43,241,317,168
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Globe says Russian military behind Barrick's Mali woes

2024-04-15 09:19 ET - In the News

The Globe and Mail reports in its Monday edition that Barrick is facing mounting pressure in Mali as the country's military regime seeks to boost its control of the multibillion-dollar mining sector at a time of growing Russian influence over its economy. The Globe's Geoffrey York writes that Mali's junta, which seized power in a coup in 2021 and later forged an alliance with Russian troops, has been targeting the mining sector for more than a year with a controversial audit of the industry and a new mining code to authorize greater state control of mining companies. Now there are reports that the regime could be seeking to expropriate a key Barrick mining complex, Loulo-Gounkoto, one of the world's biggest gold-producing mines. The reports coincide with renewed efforts by the regime to tighten its grip on the country. Last week, it suspended the activities of all political parties and banned any media coverage of political organizations. Africa-watchers say that Mali's military junta is targeting Loulo-Gounkoto. Russian troops have been heavily involved in seizing mining sites in Mali and the Central African Republic in recent years. Russia uses African mining revenue to help finance its global military operations.

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