Mali Military Airlifts $107M in Gold from Barrick’s Loulo-Gounkoto Mine to Fund Operations
Mali Military Airlifts Gold from Barrick’s Loulo-Gounkoto Mine Amid Operational Restructuring
A Malian military helicopter transported gold from Barrick Gold’s (NYSE: GOLD) Loulo-Gounkoto mining complex on Thursday, according to a report by Reuters.
The airlift follows a court-appointed administrator’s decision to sell the site’s bullion to help finance ongoing operations.
According to the report, the helicopter landed at the mine’s tree-lined airstrip and was met by the site’s security team.
The personnel were then escorted to the plant’s gold room, where the bullion was loaded. The aircraft departed five hours later with the gold onboard.
Approximately one ton of gold—valued at around $107 million—had been stored at the site since January.
At that time, a Malian judge ordered three tons of gold to be moved to a bank vault. The remaining ton was reportedly kept in storage until this week’s transfer.
The provisional administrator, former health minister Soumana Makadji, has stated his intention to fund the mine’s operations by selling gold reserves. The recent airlifted bullion is believed to have been sold for that purpose.
Although new drilling or extraction activities have not resumed, the site’s processing plant—which converts existing ore stockpiles into gold—restarted operations on Monday.
According to the report, it is expected to take 11 to 13 days from the plant’s restart to the production of the first new gold bars.
This development marks a critical step in Mali’s attempt to stabilize operations at one of its most prominent mining assets while navigating legal and administrative transitions.
