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Quite hysterical. The Malians are indeed moving to a...

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WoodySpoon

10,297 Posts.

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10/01/25

22:10

Post #: 77357303
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Originally posted by Gwaihir: ↑

Barrick Gold Facing Mali Export Restrictions; May Halt Mine Operations.

Mali's military-led government has been pushing for greater control over the mining sector since it revised its mining code.

Via info today from:
INN Precious Metals Investing 8 Jan, 2025

I told everyone this would happen, just less than a month ago.
The Russians are building the Junta a gold processing plant.
The Mines minister for the Junta said quite plainly that it would stop gold theft.
This is where the Junta are coming from, among other places.

Very soon, every ounce of gold that is dug up in Mali will have to be processed in the Mali gold refinery, and this will be Junta mandated and obligatory, for every company.

Barrick are screwed, not to mention the fact that orders to arrest the senior leadership of Barrick have also been issued by the Junta, who seem to be refining their extortion racketeering, under the experienced guidance I am sure, of the Russians.

If the current set of gold companies operating in Mali think otherwise, then they are fools with their heads in the sand.

So Barrick may halt mine operations eh, and what will happen then?

They will be forced on to the new mining code, and worse, have to process all their gold in Mali, where much of it will (surely) also go missing, and where payment for the processed will (surely) also become problematic.

By the time they wake up to this, it may be too late, their mines may be taken over by the state, which effectively means they will be given to the Russians. It's international illegal extortion and fraud and corruption of the highest order.

That it has come to this, is unbelievable.

But quite simply, it is he who has the biggest guns wins, it's purely and simply just the law of the jungle in operation now, and there is nothing even remotely civilized about it - or about the Junta.

Gw

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Quite hysterical. The Malians are indeed moving to a part-nationalisation of their own assets. Unfortunate for us in the timing but I cannot blame them much.
I wish our politicians had half the balls.
We wouldn't need to import 500,000 people a year to prop up the economy if we taxed our gas exports appropriately or took a 35% stake in every project - then recycled the money into research, healthcare & productive enterprise & infrastructure.

We are the Saudi Arabia of gas, but our pissant tin-pot corrupt "Liberal" & "Labor" governments allow it all to be stolen from us in plain sight.
We need to stop voting for the same monkeys and expecting a different tune out of their squeezebox.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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6 Great analysis

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Quite hysterical. The Malians are indeed moving to a...

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