Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute
Barrick Gold, the leading gold producer in Mali, has submitted a request for arbitration to the International Centre for Settlement of Investment Disputes (ICSID), a World Bank institution.
The Canadian company is seeking to resolve ongoing disagreements with the Malian government concerning the Loulo-Gounkoto mining complex, the country’s largest gold mine.
In a press release on December 18, 2024, Barrick confirmed its decision to use ICSID’s services to address the dispute. However, the company has not disclosed the specifics of its claims or the nature of the request.
It remains unclear whether the arbitration process will proceed. Some experts suggest that ICSID could reject the request and close the case after its submission.
If the request is accepted, a tribunal will be established to hear both parties and issue a final decision. The entire process could span several years.
Mark Bristow, Barrick’s CEO, emphasized the company’s commitment to Mali, stating, “During its three decades of operations in Mali, Barrick has consistently demonstrated its long-term commitment to the country and its people.
Throughout this process, Barrick remains open to ongoing dialogue with the Government to resolve these issues amicably and ensure the long-term success of the Loulo-Gounkoto complex.”
Barrick’s move to international arbitration follows a recent decision by Mali to block the company’s gold exports. Despite months of negotiations, both parties have yet to reach a resolution.
