Barrick Gold may suspend Mali operations as gold shipments remain blocked

By Our Correspondent, TORONTO Canada

Barrick Gold has announced that it may temporarily suspend operations in Mali unless the government lifts restrictions on gold shipments within the coming week.

The company is facing what is described as a confiscation order, which poses significant challenges not only to its operations but also to the broader local economy and its workforce.

Barrick Gold president and CEO Mark Bristow noted that the inability to ship gold not only affects operations but has broader implications for the local economy, including its 8,000 employees and its many local service providers.

“If this issue is not resolved within the coming week, Barrick will have no choice but to temporarily suspend operations at Loulo-Gounkoto.  Such an action would be deeply regrettable but necessary, as previously reported.” Bristow said in a press release made available to our Correspondent.

The company has been in a dispute with the Malian Government since 2023 over a contract based on new mining rules. Recently, an arrest warrant was issued for Bristow.

“Barrick continues to be a steadfast partner to Mali and its people, contributing significantly to the country’s economic and social development over nearly three decades.  We are committed to dialogue and finding a mutually acceptable resolution that allows us to secure the future of Loulo-Gounkoto as a vital economic contributor to Mali,” Bristow said.

Bristow also highlighted the ongoing detention of several Barrick employees in Mali on unfounded charges, stating that the company is actively working to secure their release and ensure their well-being.

He reiterated that the safety and rights of its workforce remain a critical priority for Barrick. - osoropj@gmail.com