The Globe and Mail reports in its Friday, Nov. 8, edition that Barrick Gold chief executive officer Mark Bristow says the company is willing to give Mali more than half of its mining profits as it seeks to resolve a fiscal dispute with the military government. The Globe's Niall McGee writes that over recent years, Barrick has faced multiple disputes with host countries regarding taxes and royalties. This year, Barrick has been at odds with Mali, which introduced a new mining code imposing higher royalties and a potential 35-per-cent-ownership interest in mines. Currently, the ownership split in Barrick's Loulo-Gounkoto complex is 80-20 in favour of Barrick. Mali claims Barrick owes about $417-million (U.S.) in back taxes from 2017, which Barrick disputes. In exchange for a $17-million (U.S.) payment, Barrick secured a temporary reprieve on the issue.
On Thursday, Mr. Bristow said that talks were continuing with the government of Mali, as he outlined what Barrick is putting on the table. "We have indicated that we are committed to finding a way to share the benefits, as we've done in Tanzania and Papua New Guinea, and as we do everywhere. And we're prepared to give more to the Malian government than 50 per cent."
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