Mali issues arrest warrant for Barrick Gold CEO amid tax dispute

Mali, one of Africa’s largest gold producers, has escalated its dispute with Barrick Gold by issuing an arrest warrant for the company’s CEO, Mark Bristow.

The warrant, dated December 4, accuses Bristow of money laundering and financial regulation violations, according to documents seen by Reuters and confirmed by sources close to the matter.

The West African nation, governed by a military-led junta, is pressuring foreign mining companies for increased revenues amid a rally in gold prices. In September, four senior local employees of Barrick were briefly detained over allegations of $500 million in unpaid taxes and were re-arrested last month pending trial.

Barrick Gold, headquartered in Toronto, has declined to comment on the arrest warrant. Following the news, the company’s shares fell by 2.9% on the Toronto Stock Exchange. Bristow, a South African national, has not visited Mali since July, according to the company website.

The warrant also names Cheick Abass Coulibaly, the general manager of Barrick’s Loulo-Gounkoto mining complex. Similar disputes in Mali have affected other international mining firms, including Australia’s Resolute Mining, whose CEO and two employees were detained in November before agreeing to pay $160 million in taxes.

The developments highlight increasing tensions between West African governments and international miners. Neighboring Burkina Faso and Niger have also taken steps to tighten control over their mining sectors, with Burkina Faso’s junta leader recently announcing plans to revoke certain foreign mining permits.

The growing shift in alliances in the region, moving away from traditional partners like France and the U.S. to Russia, has further complicated relations with foreign businesses operating in the resource-rich area.