C4G | 01-19-25 AM: Mali Seizes Gold

The Malian government has seized three tons of gold from Canadian mining company Barrick Gold Corp., escalating a dispute over ownership stakes under new mining laws. This action has led to the suspension of operations at Barrick's Loulo-Gounkoto mine and a significant drop in the company's share price. The government, which came to power after military coups in 2020 and 2021, is seeking a larger share under newly implemented mining codes and claims that Barrick owes $500 million in back taxes.

This development highlights the geopolitical risks associated with gold mining investments, particularly in regions with unstable political climates. Investors should closely monitor such situations, as government interventions can significantly impact mining operations and, consequently, the global supply and pricing of gold.

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Gold’s chemical symbol is “Au,” from the Latin word “aurum,” meaning “shining dawn,” and its atomic number is 79.