Mali has reportedly seized three tonnes of gold from Canadian company Barrick Gold in the midst of a tax dispute. The action follows a legal battle over the share of revenue owed to the West African state. The gold, valued at approximately $180 million, was taken from a mine near Kayes and transported to Mali's capital, Bamako. This seizure is part of an ongoing dispute involving Barrick's financial obligations to the Malian government.

Mali's military government has begun seizing gold stocks belonging to the Canadian mining company Barrick, as part of an ongoing legal dispute over the revenue share owed to the West African state, according to an internal letter from Barrick's CEO, Mark Bristow, obtained by The Associated Press. The letter, dated Monday, states that Barrick is awaiting confirmation of proper receipt of the gold by the Malian Solidarity Bank, a government-controlled entity.

Earlier this month, Mali's senior investigating judge, Boubacar Moussa Diarra, had issued a warning to Barrick that three tonnes of gold would be seized. On Monday, a senior Barrick manager confirmed that the military government had seized the gold and transported it to Bamako, Mali’s capital. The manager, who spoke anonymously due to lack of authorization to address the media, explained that the gold was taken from a mine near Kayes in the west and moved to Bamako over the weekend by truck and plane.

The Malian authorities did not immediately respond to requests for comment. Valued at approximately $180 million, the seized gold is at the center of a dispute over unpaid revenues to the state. In December, Mali had issued an arrest warrant for Bristow, accusing him of alleged money laundering, and ordered the seizure of Barrick’s gold reserves. Barrick has offered to resolve the matter by paying $370 million.

Previously, Mali's military government had arrested four senior executives from Barrick as part of the same dispute, but they were released shortly after their detention. The country, one of Africa's top gold producers, has faced significant challenges with militant violence, widespread poverty, and food insecurity. Since taking power in 2020, the military government has increasingly targeted foreign mining companies, seeking to increase revenue.

The tax-related tensions are not limited to Barrick. In November, Malian authorities arrested the CEO of Australian company Resolute Mining, along with two employees, in Bamako. They were released after Resolute Mining paid $80 million to settle a tax dispute and committed to paying an additional $80 million in the coming months.