Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension
Barrick Gold remains “fully engaged and committed to reaching a mutually beneficial resolution” with the Malian government to settle an ongoing dispute over its mining assets, according to a memo from Sebastiaan Bock, the company’s chief operating officer for Africa and the Middle East, seen by Reuters on Saturday.
The dispute, which began in 2023, centers on Mali’s new mining code, which grants the state a larger stake in Barrick’s Loulo-Gounkoto gold mining complex.
Tensions escalated when the government seized approximately three metric tons of gold from Barrick’s operations and blocked its gold exports starting in November. As a result, Barrick temporarily suspended mining activities in Mali on January 13.
On February 19, Reuters reported that Barrick had reached an agreement with the Malian government to resolve the dispute, pending formal state approval.
While the process has encountered no major obstacles, finalizing the deal is taking time, a source close to the negotiations told Reuters.
Another industry source noted that previous agreements with mining firms in Mali also took time to secure government signatures.
In the memo to employees, Bock stated that there were “no major updates at this stage” and reiterated that all non-essential operations remain paused until further notice. Despite the suspension, Barrick has continued to pay salaries and annual bonuses to its staff.
However, a supplier to the Loulo-Gounkoto complex told Reuters in early March that the company had outstanding payments overdue by two months.
Barrick remains engaged in discussions with Malian authorities as it seeks to restore full operations.
