Malian government has taken another dramatic action towards gaining total control of their mining sector.
It was discovered that government helicopters seized over one metric ton of gold from a Mining firm.
The gold, valued at approximately $107-117 million was retrieved from Barrick Mining Corp.’s Loulo-Gounkoto complex.
This action escalated a two-year dispute over taxes and mining licenses, following Mali’s 2023 mining code changes demanding higher royalties and state stakes.
Barrick, which suspended operations in January 2025 after Mali blocked gold exports and seized three metric tons of gold, condemned the seizure as “illegitimate” and is pursuing international arbitration.
The Malian government, aiming to restart the mine under court-appointed administrator Soumana Makadji, plans to sell the gold to fund operations.