Saturday, September 6, 2025

Barrick Gold Reaches Agreement To Settle Problems In Mali

Barrick Gold (TSX: ABX) has reportedly reached a new agreement with the Malian government, potentially ending a nearly two-year dispute over its mining assets in the West African nation. According to sources familiar with the matter, Barrick has signed the agreement, which now awaits formal approval from Mali’s government.

The dispute, which began in 2023, centered around Mali’s new mining code that sought to increase the government’s share in gold mining operations. As part of the resolution, Barrick is set to pay 275 billion CFA francs ($438 million) to the Malian government in exchange for the release of detained employees, the return of seized gold, and the resumption of operations at the Loulo-Gounkoto mine.

While an official announcement is expected soon, sources caution that last-minute hurdles could still derail the deal. Neither Barrick nor Mali’s mines ministry have officially commented on the agreement.

Barrick CEO Mark Bristow recently highlighted the mutual losses incurred due to the mine’s closure, noting that Mali was missing out on significant revenue. The company paid $460 million to the Mali government last year and projected a contribution of about $550 million to the nation’s treasury this year had operations continued uninterrupted.

The dispute has taken a toll on Barrick’s production, forcing the company to lower its 2025 gold output forecast to between 3.2 million and 3.5 million ounces, down from 3.9 million ounces in 2024 and 4.1 million ounces in 2023.

This development is part of a broader trend in West Africa, where military governments in Mali, Niger, and Burkina Faso are asserting greater control over their mineral resources through legal disputes, arrests, and nationalization efforts. Mali’s industrial gold production saw a 23% year-over-year decline in 2024, underscoring the impact of these disputes on the sector.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Skeena Resources Makes $9.5 Million Flipping Eskay Creek Royalty

Skeena Resources (TSX: SKE) has evidently made a “quick-flip” out of a royalty on its...

Tuesday, January 3, 2023, 08:43:34 AM

Barrick Q4 Earnings: Cash Flow Explodes

Well folks, another earnings season has begun and Barrick Gold (TSX: ABX) started it off...

Saturday, February 15, 2025, 02:33:00 PM

Barrick Gold To Change Name To Barrick Mining, NYSE Symbol To Become “B”

Despite the massive run in the price of gold, Barrick Gold Corp (TSX: ABX) has...

Monday, April 28, 2025, 07:58:08 AM

Hemlo Explorers Sees Barrick Gold Exceed Spend Commitments At Pic Project

Barrick Gold (TSX: ABX) appears to be excited by Hemlo Explorers’ (TSXV: HMLO) Pic Project,...

Thursday, February 23, 2023, 07:52:00 AM

Skeena Sees Barrick Exercise Warrants, Sell Out Of 12.9% Ownership Position Entirely

Barrick Gold (TSX: ABX) has apparently done a quick flip on shares of Skeena Resources...

Thursday, March 24, 2022, 08:36:45 AM