March 8 (Reuters) - Barrick Gold ( GOLD ) remains "fully engaged
and committed to reaching a mutually beneficial resolution" with
Mali to end a dispute over its assets there, its chief operating
officer for Africa and the Middle East said in a memo seen by
Reuters on Saturday.
The Canadian miner and Malian government have been locked in
a dispute since 2023 over the implementation of the West African
country's new mining code, which gives the state a greater share
in Barrick's Loulo-Gounkoto gold mining complex.
Barrick said on January 13 that it was obliged to
temporarily suspend mining operations in Mali after the
government seized around three metric tons of gold stock from
its complex. The government had been blocking the company's gold
exports since early November.
Reuters reported on February 19 that Barrick had signed an
agreement to end the dispute, which then went to the state for
formal approval.
While there has not been any major hiccup since then, the
deal is taking some time to be finalised, one person close to
the process told Reuters.
Previous deals with other mining companies operating in Mali
also took "some time" to be signed by the government, according
to another person familiar with the deals.
In the company memo sent to staff on Saturday, Sebastiaan
Bock said there are "no major updates at this stage".
"As a reminder, all non-critical operations remain
temporarily paused until further notice," he said.
Salaries and annual bonuses have been maintained for staff
despite the suspension. But one of the complex's suppliers told
Reuters in early March that Barrick had two months' worth of
overdue payments.