Mali Government Threatens Barrick's Loulo Mine Permit Over Disputes On Economic Benefit Sharing
Portfolio Pulse from Stjepan Kalinic
Mali's government has threatened not to renew Barrick Gold's Loulo mine permit due to disputes over economic benefit sharing. The government demands $512 million in back taxes and dividends, of which Barrick has paid $85 million. Barrick aims to negotiate a fair settlement.
October 28, 2024 | 12:16 pm
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Mali's government may not renew Barrick Gold's Loulo mine permit due to disputes over economic benefits. The government demands $512M in back taxes and dividends, with Barrick having paid $85M. Barrick is negotiating to resolve the issue.
The threat of non-renewal of the Loulo mine permit is significant for Barrick Gold as it is a critical asset in their portfolio. The demand for $512M in back taxes and dividends, with only $85M paid, indicates financial strain and potential legal challenges. The ongoing negotiations and the government's stance suggest a negative short-term impact on Barrick's stock price.
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IMPORTANCE 90
RELEVANCE 100