The Malian government seized Barrick Mining's gold worth $1.17 billion.

Barrick Mining Company, headquartered in Toronto, Canada, stated that the Malian government's helicopter accidentally landed at the company's gold mine on Thursday and confiscated over a ton of gold. This action marks a further escalation in the longstanding dispute between the West African country's government and Barrick. Earlier this year, Barrick closed its Loulo-Gounkoto large gold mine after Malian authorities blocked the export of gold bars and detained senior employees. Based on Thursday's gold price of $3324 per ounce, the value of a ton of gold is approximately $117.2 million. The Malian government also confiscated 3 tons of gold from the company in January. The disputes began in 2023 when the cash-strapped Malian military government demanded foreign investors pay alleged back taxes and comply with a new mining law that gives the Malian government higher royalties and greater stakes in joint ventures.