Mali begins enforcing gold seizure order at Barrick site, company memo shows
A small toy figure and gold imitation are seen in front of the Barrick logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
What you need to know:
- A Barrick employee in Mali confirmed the authenticity of the letter seen by Reuters. Speaking on condition of anonymity, the employee said it was sent to staff on Sunday.
Mali's government has begun enforcing a provisional order to seize gold stock at Barrick Gold's Loulo-Gounkoto site, the Canadian mining company said in a note to staff in the West African country.
A Barrick employee in Mali confirmed the authenticity of the letter seen by Reuters. Speaking on condition of anonymity, the employee said it was sent to staff on Sunday.
"A provisional order to seize our existing gold stock was issued last week and the Malian government began its enforcement on Jan. 11," Barrick said in the staff memo.
The world's second-biggest gold miner by volume said on Jan. 6 that authorities had issued such an order and warned that it would have to suspend operations temporarily if restrictions on its gold shipments were not lifted within the week.
