Barrick Opposes Mali Government’s Attempt To Take Over the Day-to-Day Operations at …

🗝️ Key Points

• Barrick Mining Corporation (B, Financial) faces a critical conflict in Mali over control of the Loulo-Gounkoto mining complex.
• The Malian government seeks provisional administration, with a court ruling pending on June 2, 2025.
• Despite operational challenges, Barrick continues to support its workforce and pursue international arbitration.Barrick Mining Corporation (B) is embroiled in a significant dispute in Mali as the government attempts to assume control over the Loulo-Gounkoto mining complex.

• Barrick Mining Corporation (B, Financial) faces a critical conflict in Mali over control of the Loulo-Gounkoto mining complex.
• The Malian government seeks provisional administration, with a court ruling pending on June 2, 2025.
• Despite operational challenges, Barrick continues to support its workforce and pursue international arbitration.

Barrick Mining Corporation (B) is embroiled in a significant dispute in Mali as the government attempts to assume control over the Loulo-Gounkoto mining complex. The situation escalated with the government’s request for provisional administration, which Barrick strongly opposes. A pivotal court decision from the Bamako Commercial Tribunal is anticipated on June 2, 2025, following Barrick’s formal submissions opposing the government’s actions.

Central to the dispute are the unlawful detention of Barrick employees, held for over five months, and the blockade on gold exports, which have severely impacted the company’s operations. Despite these setbacks, Barrick has continued to pay wages and maintain support for its workforce, highlighting its commitment to its long-term presence and economic contributions in Mali.

In response to the government’s actions, Barrick has initiated international arbitration proceedings to protect its rights and investments as per Malian law and existing agreements. The company seeks to engage in dialogue with the Malian government to amicably resolve the dispute, emphasizing the importance of sustaining collaborative relationships between governments and investors. The outcome of this legal battle is crucial for Barrick, given the Loulo-Gounkoto complex’s significant role in its production portfolio.

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