Barrick Gold Corp. Chief Executive Officer Mark Bristow said the company is “making progress” in its dispute with Mali’s military regime, but the advances haven’t come as fast as expected.
Dylan Griffiths and Jennifer ZabasajjaJohn Tumazos, analyst of Very Independent research, discusses about Barrick has ceased its activities in Mali.
The Canadian company last month suspended operations at the vast Loulo-Gounkoto complex in Mali after the government started removing gold from the nation’s biggest mine in the latest escalation of a months-long dispute. Barrick and Mali’s military rulers are locked in a standoff over the distribution of revenue from an asset that’s key for both the company and the government.
“Mali has got itself in a position where it is really trying to shake out some short-term cash out of the industry, and this industry is the very foundation of the economy,” Bristow said. “We’re making progress, not as fast as I would expect, but I’m sure everyone is a little cautious.”
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