Barrick Gold Faces Potential Shutdown of Mali Operations Over Export Restrictions

The mining giant warns it may suspend work at its Loulo-Gounkoto complex within a week as tensions with Mali's junta escalate over taxes and gold shipments.

• Barrick Gold has announced it may halt operations at its Loulo-Gounkoto mining complex in Mali if gold export restrictions are not lifted within a week.
• The Malian military junta has issued an interim attachment order on Barrick's on-site gold stock, further disrupting the company's ability to export gold.
• Barrick is engaged in a $500 million tax dispute with the government, which has also detained senior employees and issued arrest warrants for key executives.
• The Loulo-Gounkoto complex is critical to Barrick's global operations, producing 547,000 ounces of gold in 2023 and contributing significantly to Mali's economy.
• Barrick is pursuing arbitration through the International Centre for the Settlement of Investment Disputes while negotiating a revised partnership to increase Mali's share of mining benefits.

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