The Loulo-Gounkoto complex in Mali. (Image by Barrick Gold).
A Malian judge is expected to order on Thursday the reopening of Barrick Mining’s Loulo-Gounkoto gold mine under new management at the request of Mali’s government, three people familiar with the matter said.
The order would represent a major escalation of a dispute between the country and the Canadian miner that has seen operations suspended since January.
Barrick and Mali’s military-led government have been at odds since 2023 over the implementation of a new mining code that increases taxes and gives Mali’s government a greater share in the gold mine.
Operations were halted after the government seized around 3 metric tons of gold worth $317 million at last week’s price, accusing the company of not fulfilling its tax obligations. The government had been blocking Barrick’s gold exports since early November.
As a shareholder…
