B2Gold Launched Arbitration Against Mali over Exploration Permit

SEATTLE (Scrap Monster): Menankoto SARL- the Malian subsidiary of B2 Gold Corporation announced that it has launched international arbitration proceedings against the Republic of Mali over Menamkoto exploration permit.

The Mali administration had originally issued the Menankoto permit in October last year, following an extension application by the company. However, it was informed in March this year that the new permit would not be granted and that a third party has been granted new exploration permit covering the area. Following filing of dispute with the Malian authorities, the government withdrew the permit issued to the third party, thus making B2Gold’s permit valid again.

ALSO READ:

B2Gold Corp. Posted Remarkable Year of Robust Growth

B2Gold Declared Operation Update at Fekola Gold Mine in Mali

During end-May this year, B2Gold submitted a reiteration of its original permit application. However, the Ministry of Mines, Energy and Water rejected the application saying that it is subject to a court decision against Menankoto.

The company press release stated that the Republic of Mali has breached its obligations to Menankoto. The arbitration will be conducted by the International Centre for Settlement of Investment Disputes in France. Meantime, the operations at the company’s Fekola Mine have not been impacted in any way by the dispute, it added.