Day Trading Reports
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Day Trading Reports

Investing

Barrick Gold and Mali Reach Settlement, Ending Two Year Mining Dispute

by admin February 21, 2025
February 21, 2025
Barrick Gold and Mali Reach Settlement, Ending Two Year Mining Dispute

Barrick Gold (TSX:ABX,NYSE:GOLD) has reportedly reached an agreement with the Malian government after nearly two years of issues, resolving a prolonged conflict over its Loulo-Gounkoto mining complex.

According to Reuters, the deal, which is pending formal approval by Mali’s government, includes financial compensation and regulatory commitments. It will lift gold export restrictions and allow Barrick to resume full operations.

Barrick/Mali dispute background

The dispute between Barrick and Mali began in 2023 after Mali introduced a new mining code that increased the state’s financial stake in mining projects. The revised framework required foreign mining companies to cede a greater share of revenue to the government, which relies heavily on the sector as a primary source of income.

Barrick, one of Mali’s largest mining operators, resisted certain provisions, leading to months of negotiations without resolution. Tensions escalated in late 2024, when Malian authorities detained four Barrick employees from the company’s Loulo-Gounkoto mining complex, charging them with undisclosed violations.

Barrick refuted the charges and sought diplomatic and legal avenues to secure the employees’ release.

The arrests followed similar actions against executives of Resolute Mining (ASX:RSG,LSE:RSG,OTC Pink:RMGGF), which was accused of owing US$162 million to Mali in back taxes.

In early 2025, the Malian government imposed export restrictions on Barrick’s gold production, preventing the company from shipping stockpiled gold from Loulo-Gounkoto. At the time, CEO Mark Bristow warned that a prolonged shutdown could force the company to suspend mining activities at the site entirely.

Mali then escalated the standoff by enforcing gold seizures at the mine on January 11, with government officials reportedly transferring up to 3 metric tons of gold by helicopter.

Terms of the agreement

As part of the settlement, Barrick will pay US$438 million to the Malian government.

In return, the government has agreed to release Barrick’s detained employees, lift the gold export restrictions imposed on the company and allow mining operations to resume at full capacity.

A delegation of more than 15 Malian officials and representatives from consulting firm Iventus Mining conducted a three day inspection of Loulo-Gounkoto before finalizing the deal. The Malian government reportedly gave Barrick a one week deadline to restart operations, further pressuring the company to reach an agreement.

Bristow previously stated that the closure of Loulo-Gounkoto would cause financial losses for both Barrick and Mali.

In 2024, Barrick paid US$460 million in taxes and royalties to Mali. The company has estimated that it would have contributed US$550 million in 2025 if operations had continued without disruption.

The prolonged shutdown forced Barrick to lower its annual gold output forecast to between 3.2 million and 3.5 million ounces, compared to 3.9 million ounces in 2024 and 4.1 million ounces in 2023.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
New Purpose ETFs Give Canadian Investors Access to Leading Tech Stocks
next post
West High YieldResources Ltd. Announces Private Placement Offering, Loan Amendments, and World-First Magnesium Battery Breakthrough

Related Posts

ESGold Pens Colombia Tailings Project Deal as Global...

August 21, 2025

McDermitt Project Fast-Tracked Under U.S. FAST-41 Initiative

April 22, 2025

Maiden Underground Ore Reserves Underpins FY26 Production

June 26, 2025

Blackstone Unlocks High Grade Copper-Gold at Mankayan

April 3, 2025

Top 10 Aluminum-producing Countries

February 19, 2025

Basin Energy LtdAcquires Extensive Uranium and Rare Earth...

August 27, 2025

NVIDIA Earnings: What Investors Need to Know

February 27, 2025

Sun Summit Commences Drilling and Provides Exploration Update...

July 15, 2025

Crypto Market Update: Stablecoins Top US$283 Billion in...

August 30, 2025

Coinbase Backs QCAD Stablecoin to Power Canadian Crypto...

May 17, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

      January 31, 2025
    • 2

      Mega M&A: Rio Tinto-Glencore Merger Sparks Chatter

      January 28, 2025
    • 3

      Excellent 90% recoveries at Cork Tree Well & Board Update

      February 17, 2025
    • 4

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 5

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: daytradingreports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 daytradingreports.com | All Rights Reserved