Loulo-Gounkoto complex. (Image by Barrick Gold).
A Malian court has once again postponed a ruling on whether to place Barrick Mining’s (TSX: ABX; NYSE: B) Loulo-Gounkoto gold complex under provisional administration, delaying the hearing until June 12.
This marks the fourth adjournment in the ongoing legal battle between the Canadian mining giant and Mali’s military-led government, centering on disputes over taxation and control of the mine.
Background of the dispute
The conflict began in 2023 when Mali introduced a new mining code that increased taxes and expanded the government’s stake in mining operations.
Barrick has resisted transitioning to this new code, arguing that its existing agreements should remain legally binding.
In November 2024, Malian authorities blocked Barrick’s gold exports and seized approximately three tonnes of gold, citing alleged unpaid taxes.
The situation…
