The Globe and Mail reports in its Wednesday edition that Mali's military junta has closed Barrick's national office and threatened to seize control of one of its biggest gold mines in a further escalation of a protracted tax dispute. The Globe's Geoffrey York writes that Barrick says it negotiated an agreement with the Malian regime in February to resolve the dispute, but the deal has been blocked by a small group of individuals for "personal or political reasons." The company's long-term future in the West African country is now at risk, it said. In January, in response to the government's seizure of three tonnes of gold from the mine, Barrick suspended operations at its massive Loulo-Gounkoto gold complex, which accounts for about 14 per cent of the company's global earnings before interest, taxes, depreciation and amortization. Two months earlier, the government had banned any exports of gold from the mine. "It is regrettable that the Government continues to obstruct gold exports while simultaneously demanding tax payments on revenue it has actively prevented from being realised," Barrick said in a statement Tuesday. The junta, which is closely aligned with Russia, took power in Mali in a military coup in 2021.
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