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Barrick Opposes Mali Government's Attempt to Take Loulo-Gounkoto Mines
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Barrick Opposes Mali Government's Attempt to Take Loulo-Gounkoto Mines
May 26, 2025 1:52 PM

07:47 AM EDT, 05/26/2025 (MT Newswires) -- Barrick Mining ( B ) said Monday that it filed submissions to oppose Mali government's plan to place the Loulo and Gounkoto mines under provisional administration.

A decision by the President of the Bamako Commercial Tribunal is expected June 2, Barrick said.

Barrick said there is no basis for the operations to be handed over to a court-appointed interim administrator, while noting that the move disregards its rights under both Malian law and binding agreements. It is also inconsistent with the principles of due process and mutual respect, the miner said.

Barrick noted that the latest escalation by the Malian government follows the continued unlawful detention of several Barrick employees, who are now held for over five months, as well as the ongoing suspension of gold exports from the complex.

Despite the government's actions, Barrick said it continues to support its employees and contractors. Barrick said it continues to seek a fair and sustainable resolution to the dispute, adding that it has commenced international arbitration proceedings.

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