West Africa juntas tighten screws on foreign mining firms [Video]

Earlier this month, soldiers swooped by helicopter into a vast mining complex in western Mali and made away with three tonnes of gold — all done on the orders of the military government.

The confiscation at the Loulo-Gounkoto complex, majority owned by a Canadian firm, is one of the most extraordinary twists in a long-running confrontation waged by juntas in Africa’s volatile Sahel region against Western mining firms.

The militaries who took power in Mali, Burkina Faso and Niger in recent years have stepped up pressure on foreign firms — promising greater sovereignty and a fairer distribution of revenue from the lucrative mining sector.

After weeks of escalating tension with Canadian company Barrick Gold, Malian authorities carried out an order in mid-January to seize gold stocks at Loulo-Gounkoto –- one of the world’s largest gold complexes.

Barrick Gold owns 80 percent of Loulo-Gounkoto, with Mali retaining the rest.

The soldiers …