Barrick regains Mali mine along with 3t of its gold
Mali has restored control of the Loulo-Gounkoto mine to Barrick Minin and will return three tons of gold to the company after the two sides resolved a years-long dispute last month.
The restitution has already been ordered, with the return of the gold and the handover of the mine set to follow the formal conclusion of legal proceedings, the company’s legal representative said.
Gold confiscated earlier this year, when operations at the mine were suspended, is expected to be returned as a procedural formality.
Mali’s mining ministry declined to comment on the matter.
The move follows an agreement reached last month that ended a two-year standoff between Barrick and Mali’s government — a dispute that had forced the shutdown of one of the company’s most important gold assets.
Under the deal, Barrick agreed to pay a 244-billion CFA franc ($437-million) settlement, regain operational control of the Loulo-Gounkoto complex and withdraw its arbitration claims against Mali.
In return, the government will drop its charges against the company. Four Barrick employees detained during the dispute were released last month.
