Barrick says Mali government's attempt to take over its gold mine is 'unlawful'

TORONTO, May 26 (Reuters) - Canadian miner Barrick Mining ABX.TO said an attempt by the Mali government to take over the company's Loulo-Gounkoto gold mine in the country is "unlawful".

Mali's military-led interim government has asked the local court to appoint a provisional administrator to take over Barrick's mine, which it suspended in January over the alleged non-payment of taxes. Barrick has denied those charges.

The local Bamako court is expected to rule on June 2 on the government’s request to appoint a provisional administrator.

"The attempt to interfere with Loulo-Gounkoto’s operations is without precedent or lawful justification. It disregards Barrick’s rights under both Malian law and binding agreements, and it is inconsistent with the principles of due process and mutual respect that should underpin partnerships between governments and long-term investors," Barrick said in a statement.

It added that the company has reiterated its commitment to reach a satisfactory agreement.

The Mali government did not immediately respond to a request for comment.

Mali's military government, like others in West Africa, says that it wants to increase its revenue from the mining sector as it believes current arrangements are unfair, and that foreign multinationals must comply with its demands if they want to keep operating in the gold-rich country.

Most mining companies in Mali have yielded to the government's demands, except Barrick. The company has repeatedly said it has invested heavily in the Malian economy over more than 20 years. It accuses the government of moving its goal posts and asking for more money, as well as unfairly detaining some of its executives in what it says is an attempt to blackmail the company.