What happened at Barrick's Loulo-Gounkoto mine in Mali?

Barrick Mining regained operational control after a two-year dispute with the Malian government, which included the seizure of gold and suspension of operations.

How much gold is Mali returning to Barrick Mining?

Mali's authorities are returning three tonnes of gold to Barrick Mining as part of the dispute resolution.

What was the settlement between Barrick and Mali?

Barrick agreed to a settlement of CFA Fr244bn ($437m), withdrew arbitration claims, and had its operations control restored, while Mali dropped its charges.

Home / Business and Economy / Mali Returns 3 Tonnes of Gold to Barrick Mining

Mali Returns 3 Tonnes of Gold to Barrick Mining

16 Dec

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Summary

Barrick Mining has regained operational control of its Loulo-Gounkoto mine.
Mali will return three tonnes of gold previously seized from the company.
The dispute resolution involved a CFA Fr244bn ($437m) settlement and dropped charges.

Mali Returns 3 Tonnes of Gold to Barrick Mining

Barrick Mining has successfully reasserted operational control over its significant Loulo-Gounkoto gold mine in Mali. This marks the end of a protracted two-year disagreement between the mining giant and the Malian government. As part of the resolution, authorities in Mali have agreed to return three tonnes of gold that had been confiscated earlier this year when operations were suspended.

The settlement, valued at CFA Fr244bn ($437m), was crucial in resolving the conflict. Barrick also agreed to withdraw its arbitration claims against Mali, in exchange for the government dropping all charges. The mine, which had been suspended for over nine months, resumed operations in October. Additionally, four Barrick employees detained during the dispute have been released.