Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Mali claims Barrick Gold owes $512 mln in taxes, fines

11 october 2024

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