(Ecofin Agency) - Four Barrick Gold employees were arrested last September. However, they were released after the company struck a deal with the Malian government. Mali now pursues Barrick Gold for around $500 million. Barrick owns the largest gold mine in the country.

As its dispute with the Malian government persists, four Barrick Gold employees have been arrested in the West African country. The Canadian firm confirmed the news on November 26, indicating the staff has been “charged and detained pending trial”. The detained were working at Barrick’s Loulou-Gounkoto mining complex.

“Our attempts to find a mutually acceptable resolution have so far been unsuccessful, but we remain committed to engage with the government in order to resolve all the claims levied against the company and its employees and secure the early release of our unjustly imprisoned colleagues,” stated Barrick CEO Mark Bristow.

Barrick today confirmed that four employees of its Loulo-Gounkoto mining complex had been charged and detained pending trial. While Barrick refutes these charges, it said it would continue to engage with the Malian government to find an amicable dispute settlement that would…

— Barrick (@BarrickGold) November 26, 2024

Following an audit that uncovered a financial shortfall of CFA300 to CFA600 billion for the State in 2023, Bamako has initiated a tax audit of the companies operating within its borders to recover the lost funds. A Memorandum of Understanding between Barrick and the Malian government was announced on September 30, 2024, though the specifics of this agreement remain undisclosed. 

A few weeks later, Bamako accused Barrick of failing to adhere to the terms, leading to denials from the Canadian firm. Reports from Reuters indicate that Bamako is demanding as much as $500 million from Barrick. The latter, however, claims it has already made an $85 million payment without disclosing the full amount requested by the Malian government. 

Last September, four Barrick Gold employees were arrested in Mali, and in November, Resolute Mining's CEO and two executives were detained but released after the firm agreed to pay $160 million.

Emiliano Tossou