Barrick Gold Corporation has suspended operations in Mali following the government's seizure of gold worth $245 million Canadian dollars from its Loulo-Gounkoto mining complex. The military-led government moved the gold to a custodial bank, preventing its shipment and sale. Barrick expressed regret over the temporary shutdown and commitment to resolving the dispute with the Malian government. This action stems from a long-standing disagreement over a contract based on new mining regulations.
Barrick Gold Corporation has halted its operations in Mali after the government seized gold stocks worth $245 million Cdn from the company's Loulo-Gounkoto complex.Posted: Jan 15, 2025 5:27 PM EST | Last Updated: 2 hours ago
In a statement, Barrick, which is headquartered in Toronto, said it "regrettably initiated the temporary suspension of operations while it continues to work towards a resolution." Barrick has been in a dispute with Mali's government since 2023 over a contract based on new mining rules. The row has escalated several times, with Mali detaining senior executives and issuing an arrest warrant for Barrick CEO Mark Bristow.
BARRICK GOLD MALI GOVERNMENT SEIZURE MINING DISPUTE GOLD OUTPUT
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