Barrick Gold Corporation, a leading global gold miner, has announced a temporary suspension of operations at its Loulo-Gounkoto mining complex in Mali. The suspension follows an interim attachment order executed by the Malian government, which has effectively blocked the shipment and sale of gold stockpiled at the site.
The export restrictions, imposed by the government, have prevented Barrick from moving its gold stock to international markets. The situation worsened when the existing gold inventory was placed under custodial control, leaving the company with limited options to address the impasse.
Despite the challenges, Barrick has reaffirmed its commitment to resolving the dispute through constructive engagement with the Malian government and other stakeholders. The company emphasized the importance of reaching a resolution that secures the long-term sustainability of the Loulo-Gounkoto mine while preserving its vital contributions to Mali’s economy and the well-being of local communities.
The Loulo-Gounkoto mining complex has been a significant driver of economic activity in Mali, supporting local employment and contributing to government revenues. Barrick’s leadership remains focused on navigating the current challenges and ensuring the mine continues to play a key role in the region’s development.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
