
The Malian government has begun enforcing a provisional order to seize gold stocks at Barrick Gold’s Loulo-Gounkoto mine, according to a memo sent to staff by the Canadian mining company.
This action escalates a dispute between Barrick and the Malian government over a new mining code.
The memo warns that Barrick may be forced to suspend operations at the mine if the situation is not resolved quickly.
Loulo-Gounkoto is a significant gold producer for Barrick, contributing approximately 14% of the company’s estimated 2025 gold output.
This move by the Malian government comes amidst growing tensions between Western mining companies and military juntas in West Africa, including Burkina Faso and Niger, as these governments seek to renegotiate mining contracts and increase their share of mining revenues.
The dispute highlights the increasing challenges faced by mining companies operating in the region as political and economic landscapes shift.