A Malian court adjourned until June 16 a hearing on whether to put Barrick Mining’s gold mining complex, suspended since January due to a dispute over taxes and ownership, under provisional administration, a presiding judge said on Thursday.
The Malian government, a shareholder in the Loulo-Gounkoto gold mining complex, in May asked the Bamako Commercial Court to appoint an administrator, signaling its desire to end the ongoing standoff and reopen the complex as global gold prices soar.
If reopened, the mine could bring in revenues worth at least $1 billion over the next 12 months due to record high gold prices, according to Reuters estimates. Due to the standoff, however, Mali risks repelling potential investors, while Barrick’s shares have lagged those of its peers.
The government and the Canadian miner have been at odds since 2023 over the implementation of a new mining code that raises…
