Post #243

🇲🇱Barrick Has Surrendered - and the Jihadists Will Too Since 2023, Bamako has had two adversaries - the jihadists and the Canadian exploiters from the Barrick mining company. Today the latter seem ready to give up. 🌐Reuters and Bloomberg report that Barrick and Mali have held new talks and are finalizing terms that will end their dispute, which has been going on since 2023. 🔸 Just a reminder: The conflict arose because of Mali's intention to increase government revenues from gold mining by introducing a new Mining code in 2023 with increased taxes and a greater government share in mining projects. The government began to review old contracts across the entire sector - and the entire sector was not against it, except for one Barrick. 🔸Barrick herself suspended work in Mali and began proceedings against the authorities via the World Bank arbitration body. In turn Bamako did not allow the assets to stand idle and introduced temporary management. ⏩ Now, according to media reports, Barrick will accept the Mali Mining Code of 2023 and reopen the mine under its management. Most likely, such compliance among the guys from Toronto is due to the desire to sell assets rather than to simply get them back. 🔸 The news about the agreement with Mali, which was obviously leaked on purpose, is going to lead to a rise in the price of the company's shares. Here one must remember the fact that no more than a week ago, the media also reported on the possible separation of Barrick assets in Africa and Asia and subsequent sale thereof. Whether Barrick is going to stay, or, more likely, transfer its Malian assets to someone else - anything would be better for Mali and its budget than indefinite court procedures. Devils Below