
Barrick's Future in Mali Hinges on Key Gold Mine Permit Renewal
One of the next major hurdles in Barrick Mining Corp. 's saga in Mali will be renewing a key gold mining license, after the state temporarily took over the vast Loulo-Gounkoto complex this week.
The permit for Loulo, where processing facilities are located, expires in February, shortly after the period of provisional administration is supposed to end. Barrick filed a renewal request four months ago, a spokesperson for the company said, adding that a separate license for Gounkoto runs for another 17 years.
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Washington Post
an hour ago
- Washington Post
Olympic leader Bach got 10% raise in 2024 payment that trails far behind soccer's elected leaders
GENEVA — The International Olympic Committee paid its president Thomas Bach $350,000 in 2024, the Olympic body said Friday — a 10% raise for his final full year in office after a two-year freeze. The payment, or 'indemnity' in Olympic language, revealed in its annual report is small compared to soccer bodies that, like the IOC, are based in Switzerland and count annual revenue in billions. Bach on Monday will formally hand over to President-elect Kirsty Coventry , who will start an eight-year initial term as the Olympic body's first female leader and first from Africa. The IOC has classed the 71-year-old Bach as a volunteer on a full-time executive mission who 'should not have to finance activities related to his function from his personal savings.' Bach, who also gets living allowances, was paid from 12% to 15% what soccer gives its top elected officials. FIFA paid its president Gianni Infantino $5.2 million in taxable salary and bonus last year, plus other expenses. Infantino also is among the 109 IOC members and so can claim $7,000 each year for office costs and $450 daily allowance when on Olympic business. UEFA president Aleksander Čeferin got almost $4.3 million in taxable income last year, including $300,000 from FIFA as one of its vice presidents. It is unclear if the 41-year-old Coventry will be a salaried president of the IOC instead of officially a volunteer. The IOC was asked for comment. The two-time Olympic champion in swimming left her job as sports minister of Zimbabwe after winning the seven-candidate IOC election in March. Bach's annual payment has been decided by the IOC's ethics commission on the stated principle 'the president should not financially benefit from his position.' The German lawyer held a series of business consultancies and board of director seats before being elected in 2013 to lead the IOC. The IOC paid Bach 225,000 euros ($259,000) in 2020. It rose to 275,000 euros ($317,000) in the year of his re-election, 2021, then was frozen for each of the next two years. International sports bodies have typically published details of leadership pay as part of governance reforms, particularly after corruption scandals in soccer. ___ AP Olympics:
Yahoo
an hour ago
- Yahoo
Niger military leaders to nationalise uranium firm
Niger's military junta says it will nationalise the majority French-owned local uranium company in the latest escalation in a row between the two countries. Somaïr is operated by French nuclear fuels company Orano, which Niger accuses of several "irresponsible acts". Since seizing power in 2023, Niger's military leaders have said they want to keep more local control of the country's mineral wealth, and have distanced themselves from France, the former colonial power, moving closer to Russia. Niger is the world's seventh largest producer of uranium and has the highest-grade ores in Africa. "This nationalisation will allow for healthier and more sustainable management of the company and, consequently, optimal enjoyment of the wealth from mining resources by Nigeriens," the junta said in a statement. Orano has not yet commented. The company, which has operated in Niger for decades, owns a 63% stake in Somaïr but last year the military authorities seized operational control of the firm. According to the Reuters news agency, Orano, which is owned by the French state, has launched legal action against Niger over its actions. How a uranium mine became a pawn in the row between Niger and France Niger achieved independence from France in 1960 and the former colonial power managed to secure exclusive access to Niger's uranium supply through various agreements. Analysts say this was seen by many in Niger as a symbol of the country's continued domination by France. However, they also note that any uncertainty over the mining sector's future could threaten hundreds of jobs, as well as export earnings. Earlier this week, neighbouring Mali announced it was building a gold refinery in partnership with a Russian conglomerate. Like Niger, Mali is under military control and says it wants to assert more economic control of its mineral wealth, while cutting ties with France and the West. WATCH: How has Niger changed since the coup? 'France takes us for idiots' - Inside coup-hit Niger Is France to blame for coups in West Africa? Why young Africans are celebrating military takeovers Go to for more news from the African continent. Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica Africa Daily Focus on Africa

Associated Press
an hour ago
- Associated Press
Olympic leader Bach got 10% raise in 2024 payment that trails far behind soccer's elected leaders
GENEVA (AP) — The International Olympic Committee paid its president Thomas Bach $350,000 in 2024, the Olympic body said Friday — a 10% raise for his final full year in office after a two-year freeze. The payment, or 'indemnity' in Olympic language, revealed in its annual report is small compared to soccer bodies that, like the IOC, are based in Switzerland and count annual revenue in billions. Bach on Monday will formally hand over to President-elect Kirsty Coventry, who will start an eight-year initial term as the Olympic body's first female leader and first from Africa. The IOC has classed the 71-year-old Bach as a volunteer on a full-time executive mission who 'should not have to finance activities related to his function from his personal savings.' Bach, who also gets living allowances, was paid from 12% to 15% what soccer gives its top elected officials. FIFA paid its president Gianni Infantino $5.2 million in taxable salary and bonus last year, plus other expenses. Infantino also is among the 109 IOC members and so can claim $7,000 each year for office costs and $450 daily allowance when on Olympic business. UEFA president Aleksander Čeferin got almost $4.3 million in taxable income last year, including $300,000 from FIFA as one of its vice presidents. It is unclear if the 41-year-old Coventry will be a salaried president of the IOC instead of officially a volunteer. The IOC was asked for comment. The two-time Olympic champion in swimming left her job as sports minister of Zimbabwe after winning the seven-candidate IOC election in March. Bach's annual payment has been decided by the IOC's ethics commission on the stated principle 'the president should not financially benefit from his position.' The German lawyer held a series of business consultancies and board of director seats before being elected in 2013 to lead the IOC. The IOC paid Bach 225,000 euros ($259,000) in 2020. It rose to 275,000 euros ($317,000) in the year of his re-election, 2021, then was frozen for each of the next two years. International sports bodies have typically published details of leadership pay as part of governance reforms, particularly after corruption scandals in soccer. ___ AP Olympics: