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Mali Seizes $180M in Gold from Barrick

Mali’s military government has seized three tons of gold from Canadian mining giant Barrick Gold Corp. (TSX: ABX) in a move escalating an ongoing revenue dispute. The seizure, valued at approximately $180 million, marks the latest development in a series of tensions between the West African nation and international mining companies operating within its borders.

The gold was reportedly taken from Barrick’s Loulo-Gounkoto mining complex near Kayes, a region in western Mali known for its rich mineral deposits. According to a senior Barrick manager, the stockpile was transported by plane and truck to Bamako, Mali’s capital, late Saturday.

You can read more on the matter here.

What’s going on?

• Elon Musk Could Own Another Social Media Platform As China Signals Support For TikTok Acquisition (theDeepDive)

• Netflix and other streaming services now blocked on federal government networks (CBC)

• Greenland Open to US Cooperation on Defense and Mining, But “On Its Own Terms” (theDeepDive)

• Christy Clark bows out of Liberal leadership race while Karina Gould is expected to launch bid this week (Globe)

• Is X Not Letting Users Opt Out of AI Training? (theDeepDive)

• Qantas delays flights to avoid SpaceX rocket parts (FT)

• OpenAI CEO Sam Altman Sued by Sister, Says Allegations Are ‘Utterly Untrue’ (theDeepDive)

• CFPB sues Capital One for ‘cheating’ customers out of over $2 billion in interest (CNBC)

• Joly Warns “Everything Is On The Table” As Retaliation To Trump’s Tariff Threat (theDeepDive)

• Home insurance rates likely to spike in 2025 following severe weather events, insurers warn (CBC)

• UK Must Act to Secure Critical Minerals, Watchdog Warns (theDeepDive)

• Canada pauses electric vehicle rebates worth up to $5,000 for buyers (Yahoo)

What’s the latest?

• Layoffs: Meta Platforms plans to cut about 5% of its lowest-performing employees this year, aiming for a total of 10% "non-regrettable" attrition by the end of the performance cycle. CEO Mark Zuckerberg announced plans to accelerate performance-based cuts, with severance offered to affected employees.

• Klarna: Klarna has formed a major partnership with Stripe to offer its BNPL service to merchants in 26 countries, boosting its expansion ahead of a potential U.S. IPO, with a valuation of up to $20 billion. Klarna added 100,000 new merchants in 2024, doubling its growth rate, while Stripe benefits from a share of Klarna’s transaction fees. The BNPL model has helped businesses increase revenue by up to 14%, with Klarna’s volume growing 172% on Stripe last year.

• Crypto: Bitcoin rose 4% to $96,676.94, recovering from its dip below $90,000, while the broader crypto market gained 3.9%, following lower-than-expected U.S. wholesale inflation data. Coinbase and MicroStrategy shares rose over 3% and 5%, respectively, while mining stocks saw similar gains. Bitcoin remains 10% below its December 17 record but is up 3% in 2025, with projections suggesting a potential correction to $70,000 before ending the year between $200,000 and $250,000.

• Ceasefire: Negotiators in Qatar are close to finalizing a ceasefire deal between Israel and Hamas, involving the release of 33 hostages and 1,000 Palestinian prisoners in a 60-day phased agreement. Over 46,000 Palestinians have been killed since the conflict began, with Israeli strikes killing 27 more in the last 24 hours. The agreement aims to ease tensions and increase humanitarian aid, with a deadline set before Trump’s January inauguration.

• Palisades Fire Negligence: Residents affected by the Palisades Fire, which has killed at least eight people and burned over 23,700 acres, filed a lawsuit against LADWP, alleging negligence in maintaining the dry 117-million-gallon Santa Ynez Reservoir. Firefighters struggled with water shortages and pressure during the blaze, which destroyed thousands of homes and businesses. Governor Gavin Newsom has called for an investigation, while LADWP claims the demands of lower elevations hindered efforts to refill higher-elevation tanks. The fire is part of ongoing California wildfires, linked to at least 24 deaths and extensive legal actions.

Trudeau steps down: What’s next for Canada?

The stock market and stuff

• US SEC Uncovers $3 Billion Bond Scandal In BMO, Issues $40M Fine (theDeepDive)

• Spotify’s share surge arrives at AI crossroads (Reuters)

• JPMorgan Chase’s Jenn Piepszak replaces Daniel Pinto as chief operating officer (FT)

• IAMGOLD Produces 667,000 Ounces In 2024, Provides 2025 Guidance (theDeepDive)

In the juniors

• Lithium Ionic Improves Resources At Baixa Grande By 32% (theDeepDive)

• Western Metallica Resources Drills Large Multiphase Porphyry System at Caña Brava Cu-Mo Project In Peru (JMN)

• IsoEnergy Begins 8,800 Metre Winter Drill Program Largely Focused On Greenfield Targets (theDeepDive)

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