Resource nationalism is no longer exclusive to military juntas, as democracies like Botswana, Senegal, and Zambia are also pushing for improved terms in resource deals. In Mali, the detention of Resolute Mining’s CEO and four employees of Barrick Gold highlights escalating tensions between mining companies and governments. Resolute recently paid $50 million as part of a $160 million settlement, following Mali’s demand for $380 million in back taxes. Meanwhile, Mali claims Barrick Gold owes $500 million in back taxes, though the company asserts it has already made an $85 million payment. These actions underscore the increasing assertiveness of resource-rich nations in renegotiating agreements with mining firms. Continue here.
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