The military government of Mali is reportedly pursuing at least 300 billion CFA ($512 million) in outstanding taxes and penalties from Barrick Gold as part of the country's effort to increase revenue from mining firms.
Reuters reports that the Canadian corporation, the world's second-largest gold miner, said on 30 September that it had reached an agreement with the government to resolve outstanding claims and issues.
Authorities in Mali had briefly detained four Malian staff members last month.
The 2023 annual report of Barrick stated that the company received tax collection notices for approximately $417 million at the end of November 2023.
These notices were related to VAT credit balances that had been used to offset taxes and royalties but were subsequently disallowed by Malian authorities.
According to Barrick, the tax bills were "without merit," but it had paid $17 million as part of a six-month enforcement delay.
An unnamed source said the amount of money that Mali claims Barrick owes has increased as officials have conducted more thorough investigations.
The mining ministry announced in August 2023 that the audit had discovered that the government was missing 300 billion to 600 billion CFA francs in revenues that it hoped to recoup from corporations.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
