Barrick Gold's Mali dispute leads to subcontractor layoffs at Loulo-Gounkoto complex [Yahoo! Finance]
Gold.com, Inc. (GOLD)
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Source: Yahoo! Finance
the company's Loulo-Gounkoto complex in Mali, reported Reuters , citing documents and people familiar with the matter. Accusations of unmet tax obligations by Barrick Gold have led to the halt of the company's gold exports since early November last year. Operations at the Loulo-Gounkoto complex have been suspended since January following the seizure of approximately three tonnes (t) of gold by the government. Boart Longyear subsidiary BLY Mali communicated its liquidation in a letter, citing the suspension of its contract with Barrick on 25 January as the reason for its "irremediably compromised situation". The company reported having 98 employees at the complex as of March. ETASI, a heavy equipment rental company, announced in a letter that it would suspend all personnel, with 68 employees on its payroll as of last month. Similarly, a work-placement company representing metal construction operator ATC has issued layoff notices to its workers following the end of a three-mon
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