Mali hearing on Barrick's Loulo-Gounkoto complex adjourned to June 12
A Malian court has adjourned until June 12 a hearing on whether to put the Loulo-Gounkoto gold mining complex, suspended since January due to a dispute between its owner Barrick Mining and Mali's government, under provisional administration, a judge said on Thursday.
The government's request to appoint an administrator comes amid soaring gold prices, and signals its desire to end the standoff and reopen the complex.
Granting the request would represent a major escalation of a years-long dispute over taxes and ownership between the West African country and the Canadian miner, which suspended operations in January after authorities blocked its exports and seized its gold stock.
Barrick Mining, previously called Barrick Gold, has said operations can only resume when the Malian government removes the restrictions on gold exports imposed in November.
As a shareholder in the mining complex, the Malian state last month asked the Bamako Commercial Court to appoint a provisional administrator to take over the mines.
Barrick and the military-led government have been at odds since 2023 over the implementation of a new mining code that raises taxes and gives the government a greater share in the gold mines.
Outside of court, negotiations between the two sides continue, according to two people close to the talks. Barrick has also launched an international arbitration case against Mali over the dispute.
Gold prices hit a record $3 500.05 per ounce on April 22.
Comments
Projects
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Established in 1982, Invincible Valves is a medium-sized enterprise in Germiston, serving global and local markets.
VISIT SHOWROOM
Press Office
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
