What happens when a government seizes a gold mine?
In Mali, it means selling off precious reserves to get things running again.
Authorities in junta-led Mali have started offloading gold from the Loulo-Gounkoto mine—a major complex previously run by Canadian mining giant Barrick.
The move comes weeks after a court handed temporary operational control to a government-appointed administrator.
The mine, one of the world’s largest, hadn’t produced a single ounce since January.
Malian officials seized about three tonnes of gold in a tax dispute.
Now, sources tell AFP that some of that stash is being sold to cover costs like unpaid salaries and restarting operations.
Barrick, which holds an 80% stake in the mine, says it’s pursuing international arbitration.
“Our subsidiaries are still the legal owners,” the company noted, but operations are now out of their hands.
What’s Fueling The Clash?
Money and sovereignty. Mali’s military rulers are in power since the 2020-21 coups.
They want more control and bigger cuts from foreign firms tapping into the country’s rich mineral resources.
Last year alone, Loulo-Gounkoto pumped about $1 billion into Mali’s economy.
But with courts, coups, and gold all in play, the real treasure may now be in who controls the narrative.
