Mali’s Military Junta Seizes $118 Million in Gold – The Plot Thickens! 💰👀

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Oh, the tangled webs we weave when gold and power conspire! In a rather theatrical turn of events, the illustrious gold mining titan, Barrick, finds itself bereft of over a hundred million dollars’ worth of the golden treasure, commandeered by state helicopters soaring through the skies of Mali.

Just last week, the intrepid leader of Mali’s military junta, the audacious Assimi Goïta, anointed himself with a president’s cape, bestowing upon his reign a five-year mandate – renewable, mind you, “as many times as necessary” without the tiresome bother of an election. Talk about setting the stage for a political drama! 🎭

This coup d’état, which unfolded in 2021, has unleashed a veritable hurricane of chaos for our Canadian friends at Barrick, who now find themselves embroiled in legal escapades, eye-rolling tales of employee detentions, and the rather alarming vanishing of nearly four tons of their glimmering gold.

But the latest coup de grâce came rather unexpectedly; the junta gallantly arrived at Barrick’s Loulo-Gounkoto mine to seize a staggering $118.802 million worth of gold, as if it were an afternoon picnic, sans the sandwiches. 🥪

In an update that drips with irony, Barrick lamented:

“Government helicopters landed unannounced at Loulo-Gounkoto and took over one tonne of gold potentially for sale by the provisional administrator – though that remains to be seen and the situation is evolving.”

“Through this entire process, Barrick has continued and continues to engage in negotiations through all available channels to resolve the dispute, but the deadlock remains.”

To add a piquant twist to this tale, Jeremiah Enoch, an astute strategy advisor from J.S. Held Ltd in London, proclaimed to Bloomberg that gold is the veritable lifeblood of Mali’s foreign exchange – securing it, “with or without Barrick,” is as strategically crucial as finding the last slice of cake at a party! 🎂

“The broader context suggests the proceeds may also be used to fund urgent national priorities, including security and fiscal needs.”

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2025-07-14 20:06