Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions
BAMAKO – Mali, one of Africa’s largest gold producers, has issued an arrest warrant for Barrick Gold CEO Mark Bristow, according to a warrant document seen by Reuters on Thursday. This marks an escalation in the ongoing dispute between the Canadian mining company and the West African nation.
The junta-led government of Mali is seeking to increase state revenues from the mining sector as gold prices rise. In an effort to exert pressure on foreign companies, the government has detained mining executives.
In September, four senior local employees of Barrick were briefly detained over a demand for approximately $500 million in unpaid taxes. They were re-arrested last month and remain in custody pending trial.
In early November, Bristow told Reuters that Barrick, the world’s second-largest gold producer, was confident that it could resolve the dispute with Malian authorities by the end of the year.
The arrest warrant accuses Bristow of money laundering and violating financial regulations. The document, dated December 4 and initially reported by Malian media, was confirmed by two sources familiar with the matter, who spoke on condition of anonymity.
In response to Reuters’ request, Barrick stated that it would not comment on the reported arrest warrant. Following the news, Barrick’s shares fell by 2.9% on the Toronto Stock Exchange.
Bristow, a South African national who splits his time between Britain and the US, last visited Mali in July, according to the company’s website. Barrick’s headquarters are located in Toronto.
The warrant also extends to Cheick Abass Coulibaly, the general manager of Barrick’s Loulo-Gounkoto mining complex in Mali.
Last month, Australian mining company Resolute Mining faced similar tensions with Mali’s military-led authorities over a tax dispute, resulting in the detention of the company’s British CEO and two other employees. They were released after Resolute agreed to pay $160 million.
These incidents highlight the growing challenges faced by international mining companies in the region. Both Burkina Faso and Niger have also increased pressure on foreign companies.
In October, Burkina Faso’s junta leader Ibrahim Traore announced plans to revoke mining permits from some foreign companies and focus on increasing domestic gold production.
Meanwhile, Niger took control of the Somair uranium mine owned by French nuclear fuels company Orano, a move confirmed by the company on Wednesday.
In a broader geopolitical shift, Mali, Burkina Faso, and Niger have distanced themselves from traditional allies like the United States and former colonial power France, strengthening ties with Russia, which is providing security assistance to their military governments.
