Barrick reported on Monday “a significant deterioration” in conditions at Loulo-Gounkoto, including the imprisonment of employees without cause and the obstruction of bullion shipments.
“If shipments remain suspended, Barrick will be compelled to halt operations, further impacting the viability of this critical economic driver for Mali,” the company said in a statement.
Mali, Africa’s second-largest gold producer, has been under military rule since 2021, following the country’s third coup in less than ten years. The junta has prioritized restructuring the mining industry, rolling out a new mining code, and conducting audits of operations. These changes have led to tense negotiations with foreign operators like Barrick, particularly over tax disputes and the terms of new agreements.
Arrests of staff from Australia’s Resolute Mining (ASX: RSG) and Barrick by military authorities have gathered pace…
