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Barrick and Mali Seal Deal Ending Loulo‑Gounkoto Standoff

The pact caps a two-year dispute over Mali’s revised mining code, with steps pledged to free four detained employees.

Overview

  • All charges against Barrick, its affiliates and employees will be dropped, with legal steps initiated to release four detained workers.
  • The state’s provisional administration of the Loulo‑Gounkoto complex will be terminated and operational control will return to Barrick.
  • Barrick’s subsidiaries will withdraw arbitration claims pending at the International Centre for Settlement of Investment Disputes.
  • Mali’s mines minister said Barrick agreed to sign the 2023 mining code, which permits up to 30% state ownership in new projects.
  • An official told the Associated Press the parties set a six‑day window to implement the deal, including Barrick withdrawing its complaint, a payment of about $180,000, and the return of roughly three tons of seized gold.