Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff
Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday.
Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years.
As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources.
Barrick halted operations at its Loulo-Gounkoto complex in January after Mali’s military-led government blocked gold shipments and seized three tons of gold.
Additionally, four Barrick employees have been detained since November, facing charges of money laundering and financing terrorism, allegations that the company strongly denies.
In February, Barrick reached an agreement with the Malian government to resolve a nearly two-year tax dispute, but authorities have not yet approved the deal. This delay raises questions about when operations will resume.
A ministry document estimates that if Barrick restarts in March 2025, it could produce 1.1 tons of gold that month. However, with operations still suspended, this target seems unlikely.
In its latest annual report, Barrick projected a potential restart on April 1, 2025, but acknowledged that reaching a final agreement remains uncertain.
In January, Barrick produced only 0.63 tons of gold, and none in February, further impacting overall production estimates.
Despite the challenges in its gold sector, Mali officially became a lithium producer in December 2024 with the launch of the Goulamina lithium mine, operated by China’s Ganfeng.
The mines ministry expects Goulamina to produce 381,959 tons of lithium spodumene in 2025, marking a significant diversification in the country’s mining industry.
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