๐ The authorities in Mali have released four local employees working for Canadian mining company Barrick, after a full year of their detention in the capital Bamako, in a step that came after reaching a comprehensive agreement that ended a long-standing dispute between the company and the government, as confirmed by three informed sources to Reuters.
๐ Mali has faced major gold companies over the past two years after the new mining law was passed, granting the state a larger share of mining profits amid the historic rise in global gold prices.
๐ Gold is a vital artery for the Malian economy, accounting for more than 75% of the country's exports, which has prompted the government to renegotiate existing contracts to increase its share of revenues.
๐ The new law has also imposed stricter conditions on foreign companies, including raising the state's share of project ownership and reducing tax privileges, which has led to ongoing disputes with global companies, most notably "Barrick"
