Mali Restores Loulo-Gounkoto Mine to Barrick Mining After Settlement
Mali Returns Loulo-Gounkoto Gold Mine to Barrick Mining, Orders Restitution of Three Tons of Gold
Mali has restored operational control of the Loulo-Gounkoto gold mine to Barrick Mining and ordered the return of three tons of gold to the company, following the resolution of a dispute that lasted nearly two years.
According to Barrick’s legal representative, the restitution process has already been authorized. The physical return of the gold and the formal handover of the mine will be completed once the remaining legal procedures are officially concluded.
The gold, which was confiscated earlier this year when mining operations were suspended, is expected to be returned as part of routine procedural formalities linked to the settlement.
Mali’s Ministry of Mines declined to comment on the matter.
The development follows an agreement reached last month that ended a prolonged standoff between Barrick and the Malian government. The dispute had led to the shutdown of one of Barrick’s most significant gold-producing assets.
Under the terms of the agreement, Barrick committed to pay a settlement of 244 billion CFA francs (approximately US$437 million), regain full operational control of the Loulo-Gounkoto mining complex, and withdraw all arbitration claims filed against the Malian state.
In exchange, the Malian government agreed to drop all charges against the company. Four Barrick employees who were detained during the dispute were released last month, marking a key step toward normalizing relations between the two parties.
