DAKAR/TORONTO (Reuters) -A Malian judge is expected to order on Thursday the reopening of Barrick Mining’s Loulo-Gounkoto gold mine under new management at the request of Mali’s government, three people familiar with the matter said.
The order would represent a major escalation of a dispute between the country and the Canadian miner that has seen operations suspended since January.
Barrick and Mali’s military-led government have been at odds since 2023 over the implementation of a new mining code that increases taxes and gives Mali’s government a greater share in the gold mine.
Operations were halted after the government seized around 3 metric tons of gold worth $317 million at last week’s price, accusing the company of not fulfilling its tax obligations. The government had been blocking Barrick’s gold exports since early November.
As a shareholder with a 20% stake in the facility, the West African country requested reopening of the mine at the Tribunal de Commerce de Bamako Court, two of the people said.
If the judge agrees, a new management body would be appointed to reopen and run the mines, the two people added.
The latest development comes as the two sides negotiate another memorandum of understanding.
Thursday is the deadline for value-added tax payment in Mali. Barrick’s mine is listed under VAT payers in Mali’s tax system.
Spokespersons for Barrick and Mali’s Mines Ministry did not immediately respond to requests for comment.
(Reporting by Portia Crowe in Dakar and Divya Rajagopal in TorontoEditing by Veronica Brown, David Goodman and Rod Nickel)
