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Barrick Gold is working to resolve a standoff with Mali’s government that has stopped operations at its Loulo-Gounkoto gold mine. According to COO Sebastiaan Bock, the company remains “fully committed” to finding a solution that works for both sides.
The dispute began in 2023 over Mali’s new mining code that increases government ownership in Barrick’s operations. Things worsened in January 2025 when Mali seized three tons of gold and Barrick suspended mining after the government had blocked exports since November. While Reuters reported in February that Barrick had signed an agreement awaiting government approval, sources say finalization is moving slowly—similar to previous mining agreements in Mali. Despite the shutdown, Barrick continues paying employee salaries and bonuses, though at least one supplier reported overdue payments stretching back two months as of early March.
