Mali Threatens Takeover of Barrick Mine as Dispute Escalates (1)

Barrick Gold Corp. said Mali has shut its office in the nation’s capital and is threatening to take over its gold operations.

Mali warned it would place the company’s shuttered Loulo-Gounkoto complex under provisional administration unless the mine is reopened and tax payments made, Barrick said in a statement Tuesday.

The cash-strapped military junta running the West African nation has demanded payments for alleged back taxes from Barrick subsidiaries. It also wants the Canadian firm to adhere to new legislation that would give the state a larger stake in the mine and higher royalties.

The impasse with Mali is hindering ...