Barrick Gold Resolves Dispute with Mali Government
In a significant development, Canadian mining giant Barrick Gold has reached a new agreement with the government of Mali to resolve an ongoing dispute over its mining assets in the West African nation. The agreement was finalized by Barrick, and formal approval from the Malian government is anticipated soon, potentially as early as Thursday.
As part of the agreement, Barrick will pay 275 billion CFA (approximately $438 million) to the Malian government. In exchange, the detained employees of Barrick will be released, seized gold will be recovered, and operations at the Loulo-Gounkoto mine will resume.
The dispute between Barrick and Mali originated in 2023, centered on the implementation of Mali's new mining code, which grants the government a larger share of the country's gold mining revenue.
Barrick has not responded to Reuters' inquiries, while a spokesperson for Mali's Ministry of Mines declined to comment on the matter.