Mali: Barrick Gold confirms suspension of operations in gold mine

Barrick Gold Corporation said that it remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali, where authorities have also seized the company’s existing gold stock from the site to a custodial bank.

Malian authorities have seized an amount of gold estimated at $245 million in an escalation of their long-running dispute with the company, Reuters reported.

“As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution,” Barrick Gold said in a statement.

Barrick Gold, whose Loulo-Gounkoto mining complex in Mali accounts for around 14% of its 2025 estimated gold output, has been in a dispute with the country’s government over a contract based on new mining rules since 2023.

Mali issued an arrest warrant against Barrick Chief Executive Mark Bristow.

Mali and other military-ruled states in the Sahel have pushed for renegotiating deals with western mine operators, surfing on a wave of anti-western sentiment.

Mali, Africa’s second-largest gold producer in 2023 and 11th globally, has a 20% stake in the Loulo-Gounkoto mine, with Barrick holding the remaining 80%.