Barrick Awaits Court Ruling in Mali Amid Ongoing Dispute Over Mine Control
Barrick Gold Corporation, listed on the NYSE and TSX, is awaiting a court ruling scheduled for June 2 by the Bamako Commercial Tribunal regarding the Mali government’s attempt to place the Loulo-Gounkoto mining complex under provisional administration.
The move follows the government’s formal request submitted to the court on May 8. In response, Barrick’s Loulo and Gounkoto operations filed legal objections on May 22, contesting the government’s demand. A preliminary hearing on May 15 granted the company an opportunity to present its case.
In an official statement, Barrick firmly rejected the government’s position, stating that there is no legal or operational justification for appointing a court-imposed interim administrator to oversee the mine’s day-to-day functions.
This legal escalation follows the prolonged detention—now five months—of several Barrick employees in Mali, which the company has condemned as “unlawful.” Additionally, the Malian government has halted gold exports from the Loulo-Gounkoto complex, citing alleged non-compliance with tax obligations.
Despite the dispute, Barrick affirms it has continued to pay employee wages and sustain monthly operations at the site, even under suspended conditions.
Last week, the company wrote to Mali’s Minister of Economy and Finance, reaffirming its willingness to resume negotiations toward a mutually acceptable agreement that would secure the release of its employees and restore full operations.
Barrick maintains that it seeks a “fair and sustainable resolution” to the ongoing conflict and has initiated international arbitration proceedings under the dispute resolution framework outlined in its mining conventions with the Malian government.
