Economy

How two former employees are driving Mali's hardball talks with Barrick

Date: Feb 2, 2025

Two former company executives with inside knowledge of Barrick Gold's operations in West Africa are helping to drive Mali's demands for a payment of around $200 million from the Canadian miner, according to people familiar with the talks.

Mamou Toure and Samba Toure, key members of the government's negotiating team, both used to work in Mali for Randgold, a mining company that is now part of Barrick.

Mali's military-led government, which in December seized three metric tons of gold from Barrick worth about $245 million, has given the miner until Saturday at midnight to respond to its demands.

It wants Barrick to pay $199 million in back taxes, according to a source familiar with the situation.

If a deal is finalised, Mali would return the seized gold and release four Barrick executives detained since late November, the source said.

--Reuters--

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