Barrick Gold has reaffirmed its commitment to resolving its ongoing dispute with the Malian government, according to a memo from the company’s chief operating officer for Africa and the Middle East.
The dispute, which began in 2023, centers around the implementation of Mali’s new mining code, giving the state a larger share in Barrick’s Loulo-Gounkoto gold mining complex.
In response, Barrick suspended mining operations on January 13 after the Malian government seized around three metric tons of gold from the complex.
The government had been blocking Barrick’s gold exports since early November. While a deal was signed on February 19 to resolve the issue, it is still awaiting final approval from the state.
Despite the prolonged negotiations, Barrick maintains that it is “fully engaged and committed to reaching a mutually beneficial resolution” with Mali.
The company confirmed that there are no major updates at this stage and that all non-critical operations remain paused.
Salaries and annual bonuses have been maintained for staff, though some suppliers have reported overdue payments.
The situation remains fluid, with no immediate changes expected, as Barrick continues to work toward finalizing the agreement.
This is not the first time delays have occurred in such agreements. Previous deals involving other mining companies in Mali have also faced extended negotiation periods.