financetom
Business
financetom
/
Business
/
Barrick Opposes Mali Government's Attempt to Take Loulo-Gounkoto Mines
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Griffon Surges Ahead: Strong Q4 Earnings Beat, Dividend Hike, Buyback & More
Griffon Surges Ahead: Strong Q4 Earnings Beat, Dividend Hike, Buyback & More
Nov 13, 2024
Griffon Corporation ( GFF ) shares are trading higher after the company reported better-than-expected fourth-quarter earnings. The company reported quarterly revenue growth of 3% year-over-year to $659.67 million, beating the consensus of $641.24 million. Adjusted EBITDA rose 13.4% YoY to $137.53 million, and the margin expanded 194 bps YoY to 20.9%. Adjusted EPS for the quarter rose to $1.29 from...
Salesforce's Q3 Deal Activity Largely In-Line, Consistent With Q2, BofA Says
Salesforce's Q3 Deal Activity Largely In-Line, Consistent With Q2, BofA Says
Nov 13, 2024
10:42 AM EST, 11/13/2024 (MT Newswires) -- Salesforce's ( CRM ) Q3 deal activity is seen largely in-line and consistent with the previous quarter, BofA said in a Wednesday note based on feedback from the company's partners. BofA said the company's new agent-focused platform Agentforce is generating enthusiasm in the market but contribution to Q3/Q4 subscription revenue is not likely...
Spire Global Soars On Heels Of $241 Million Sale Of Maritime Business, Plans Debt Payoff
Spire Global Soars On Heels Of $241 Million Sale Of Maritime Business, Plans Debt Payoff
Nov 13, 2024
Spire Global, Inc. ( SPIR ) shares were trading at $14.46 at last check Wednesday morning, up 22.75%. The uptick comes after the satellite and analytics company agreed to sell its maritime business to Kpler for roughly $241 million. The deal includes a $233.5 million purchase price and $7.5 million allocated for services over the next twelve months post-closing. This...
Griffon Surges Ahead: Strong Q4 Earnings Beat, Dividend Hike, Buyback & More (UPDATED)
Griffon Surges Ahead: Strong Q4 Earnings Beat, Dividend Hike, Buyback & More (UPDATED)
Nov 13, 2024
Editor’s note: The story has been updated to correct the adjusted EPS figure Griffon Corporation ( GFF ) shares are trading higher after the company reported better-than-expected fourth-quarter earnings. The company reported quarterly revenue growth of 3% year-over-year to $659.67 million, beating the consensus of $641.24 million. Adjusted EBITDA rose 13.4% YoY to $137.53 million, and the margin expanded 194...
Copyright 2023-2026 - www.financetom.com All Rights Reserved