The Globe and Mail reports in its Wednesday edition that Mali's military government is seeking at least 300 billion CFA francs ($512-million (U.S.)) in outstanding taxes and dividends from Barrick Gold. A Reuters dispatch to The Globe says that authorities in Mali last month briefly detained four Malian staff working for Barrick and the Canadian company said on Sept. 30 it had agreed with the government to solve existing claims and disputes. The demands on Barrick follow an audit of mining contracts last year and a subsequent push by Mali to renegotiate existing agreements with mining firms, including B2Gold, Resolute Mining and Allied Gold, to channel a greater share of revenues into state coffers through a new mining code. Under the new code, Malian state and private interests in projects could rise to 35 per cent from 20 per cent now. Mali also wants more locals in management roles. Barrick, which runs the Loulo-Gounkoto mines in Mali with an 80-per-cent interest, had been presented a bill for at least 300 billion CFA francs. The bill was mainly for retroactive tax adjustments and unpaid dividends. Mali believes Barrick owes as much as 500 billion CFA and the claim is also linked to the non-repatriation of funds.
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