Barrick Mining officially resumes operational control of Mali mine, memo shows
Canada's Barrick Mining has officially resumed operational control of its Mali gold mine, according to a company memo seen by Reuters.
Barrick will resume production gradually and will focus on mandatory training for employees and contractors, according to the memo sent by Sebastiaan Bock, Director of Operations for Africa and the Middle East.
The two sides reached an agreement last month to resolve their dispute over Barrick's operations in the West African country after two years of negotiations. The disagreement over the implementation of a new mining code introduced by the military-led government led to Barrick suspending operations at its gold mining complex in January, and a Malian court-appointed provisional administrator taking control in June.
Barrick agreed to a settlement worth $430-million, a source said.
Last week a Malian judge ordered the return of possession of Barrick's 3 metric tons of gold seized by the country's military government nearly a year ago to the company, according to two people familiar with the matter. The gold, worth about $400-million, was seized by a military helicopter in January following a confiscation order from a Malian judge. It has remained at the BMS bank in Mali's capital, Bamako, since then, according to both sources.
Barrick, which has activist investor Elliott Capital as one of the shareholders, announced plans to focus on its North American operations, including an IPO for this business under its interim CEO, Mark Hill.
Shares of Barrick were trading 1% higher at the Toronto Stock Exchange on Thursday afternoon.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.
VISIT SHOWROOM
Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
