The Globe and Mail reports in its Tuesday edition that Mali's government and Barrick will start a new round of negotiations today to resolve a deepening dispute over the alleged non-payment of taxes by the Canadian miner and the seizure of its gold stocks. A Reuters dispatch to The Globe says that Barrick has temporarily suspended its mining operations in Mali after the government seized close to three tonnes of gold, worth $250-million (U.S.), from the company's Loulo-Gounkoto complex. Mali, Burkina Faso and Niger -- all led by juntas -- are all seeking to renegotiate new terms with gold miners to gain a bigger share of mining revenue at a time when gold prices have hit record highs. The dispute between Mali and Barrick is over the country's new mining code that came into effect in 2023. The mining code gives the state a bigger share of mining revenues and removes tax exemptions for mining companies. The new round of negotiations will be around the tax payments, Barrick's agreeing to the new mining code and the release of the seized gold. Mali had previously demanded $500-million (U.S.) in unpaid taxes from Barrick. Mali has also issued an arrest warrant against Mark Bristow, chief executive officer of Barrick.
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