Precious Metals
Mali seizes $290 mn in gold from Canadian mine as Sahel juntas push for resource control
The operation, which took place at the Loulo-Gounkoto complex– majority-owned by Canadian firm Barrick Gold– was the latest in a series of moves by military-led governments in Mali, Burkina Faso, and Niger to assert greater control over their mineral resources.
Global gold mining companies take a hit
Miners at the complex said soldiers arrived unannounced, confiscated phones from those attempting to document the raid, and flew the gold—valued between $260 million and $290 million—back to the capital, Bamako.
The confiscation followed weeks of tensions between Malian authorities and Barrick Gold, which owns 80 per cent of the site.
Related Articles
Investigation uncovers fraudulent identity documen...
10 Sep, 2024 08:08
The Top Five Gold-Producing Countries in Africa in...
10 Sep, 2024 08:46
AngloGold notes ‘enormous geological potential’ in...
10 Sep, 2024 09:29
Awalé Resources expands BBM gold zone at Odienné p...
10 Sep, 2024 11:38
Proposed amendment: Gold mines to be subject to th...
10 Sep, 2024 12:39
Pan African Resources Annual Result Improves; Expe...
12 Sep, 2024 07:42
African countries are joining the sovereign gold-b...
12 Sep, 2024 08:07
Platinum Group Metals Ltd. Announces Positive Inde...
16 Sep, 2024 09:11
At least 20 likely dead in violence near Papua New...
16 Sep, 2024 10:37