OTTAWA (dpa-AFX) - Barrick Mining Corp. (B, ABX.TO) is opposing the Malian government's attempt to take control of its Loulo-Gounkoto mining complex. A court ruling on this issue is expected on June 2, following Barrick's formal submissions on May 22.
The Malian government first submitted its request to the court on May 8, seeking provisional administration for the mine. Barrick argues that there is no legal or practical reason for an interim administrator to take over day-to-day operations. The company defended its position at a preliminary hearing on May 15.
The dispute comes as the Malian government has detained several Barrick employees for over five months and blocked gold exports from the site. Despite these challenges, Barrick continues to support its workers by paying wages and maintaining monthly operations, even though mining activities have been suspended.
Barrick said this move by the government has no legal basis, violates its rights, and goes against fair business practices. The company insists that governments and long-term investors should work together with respect and legal fairness.
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