Mali Seizes Barrick Gold as Junta Leader Claims Indefinite Rule

Mali’s government seized more than a ton of gold from Barrick Mining Corp., days after the West African nation’s junta leader signed a law granting himself a mandate renewable forever.

State helicopters landed “unannounced” and took the equivalent of about 35,000 ounces of bullion “potentially for sale by the provisional administration — though that remains to be seen and the situation is evolving,” the Toronto-based Barrick said in a statement. The seized amount is worth about $117 million, with gold trading at around $3,324 per ounce on Friday.