Post by
theCurse on Dec 06, 2024 10:52am
Mali issues arrest warrant for Barrick Gold CEO
article also mentions BF and overall deteriorating conditions for foreign mining companies.
https://www.reuters.com/world/africa/mali-issues-arrest-warrant-barrick-gold-ceo-document-shows-2024-12-05/
to be honest, there was some temptation to bite when i saw it at $26.44 this morning but was worried it was another CEO type news that some got an early sniff on.
Not sure where this will be if gold takes a 200-300+ hit for whatever reason. Never know where POG will go is what i've come to believe.
an excerpt...
Australia's Resolute Mining (RSG.AX), also had its British CEO and two other employees detained by Mali's military-led authorities over a tax dispute last month.
They were released after the miner agreed to pay $160 million.
The detentions and arrest warrants in Mali highlight the challenges faced by international mining companies in the region, where Burkina Faso and Niger have also increased pressure on them.
Burkina junta leader Ibrahim Traore said in October the country plans to withdraw mining permits from some foreign companies and will seek to produce more of its own gold.
Niger has taken control of French nuclear fuels company Orano's Somair uranium mine, the company said on Wednesday.
The three countries have shifted away from traditional allies such as the United States and former colonial power France, and grown closer to Russia, which is helping provide security for their military leaders.
tC