TORONTO / BAMAKO — April 2025 | Minener.com
Barrick Gold Corporation (NYSE: GOLD; TSX: ABX) has reiterated its commitment to a fair and constructive resolution with the Government of Mali, amid rising tensions over stalled gold exports, tax disputes, and the detention of its employees.
In a statement issued this week, Barrick confirmed it had finalized an agreement with Mali’s Ministry of Finance in February 2025, following negotiations that began in late 2024. The deal, aimed at resolving all outstanding disputes, included a voluntary payment of $85 million by Barrick last October as a gesture of good faith.
🚫 Government Escalations Despite Agreement
Despite having accepted and signed the agreement presented by the Government, Barrick alleges that Mali has failed to countersign and implement the accord, apparently due to resistance from “a small group of individuals placing personal or political interests above national priorities.”
Recent developments have worsened the situation:
- The arrest and ongoing detention of four Barrick employees, which the company deems unjustified.
- Suspension of gold shipments from the Loulo-Gounkoto mine.
- Closure of Barrick’s Bamako office and threats of placing the mine under provisional administration, despite halted exports.
“It is regrettable that the Government continues to obstruct gold exports while simultaneously demanding tax payments on revenue it has actively prevented from being realised,” Barrick stated.
⛏️ A Critical Mining Asset at Risk
The Loulo-Gounkoto complex is one of Mali’s most strategic mining operations, contributing significantly to the national budget through taxes and royalties. Barrick warns that the continued standoff could jeopardize both the mine’s long-term viability and Mali’s fiscal stability.
The company emphasized that it is ready to immediately resume operations and deliver the economic benefits outlined in the agreement — including job creation, royalty flows, and sustainable local development.
Barrick also called for the release of its detained employees and the dropping of what it describes as “unfounded” criminal charges.
💬 Arbitration on the Horizon?
While Barrick remains open to dialogue, it has signaled readiness to pursue international arbitration and legal action against the Government of Mali and any parties acting in bad faith.
“We urge the Government of Mali to act now in the interest of its people and the national economy by concluding the agreement which stands ready to be implemented.”