Year: 2024
Type: article
Abstract: government capital in mining entities.The country has also nationalised some foreign-owned gold mines amid speculation that the ultimate aim of the military government and its Russian allies is to seize control of the sector.Privately-owned Nouvel Horizon (25/10) linked the dispute to unpaid tax revenues of between $500m and $1bn the government is seeking to recover from the Canadian firm.This controversy between the government and the mining giant was a consequence of the vast ongoing reorganisation of the mining sector, started by the transitional authorities since 2022, following an audit, the report said.In August 2023, Mali adopted a new mining code which allows the state to take up to 30% shareholding in new projects as opposed to the previous 20%.This reform also abolished tax exemptions enjoyed by the companies for mineral exploration.Barrick Gold, which has been in the country for 30 years, also downplayed the accusations saying the agreement was a "framework" to resolve the $512m in revenue that the government is seeking from the company.The firm said it had already paid $82.33m after the October 4th talks.(BBC Monitoring 27/10) Guinea: At least two people died in clashes with security forces at a protest against a Chinese gold-mining firm in eastern Guinea, Guinea's press agency and a local official said on October 14th.The demonstration on October 12th in Konkoi close to the Malian border also left four people injured, according to the Guinean Press Agency (AGP), while around 40 more were arrested.Locals were protesting against the firm after it caused the "environmental degradation and the destruction of villagers' fields in full bloom", the AGP's local correspondent told AFP.Many Chinese companies have begun operating mines in Guinea, which has large reserves of bauxite as well as iron ore and gold deposits.
Language: English
Subfield: Building and Construction
Field: Engineering
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4405113589