Mali renews Barrick Mining's Loulo license for 10 more years
BAMAKO - Mali's government approved a draft decree renewing Barrick Mining's Loulo gold mining permit for an additional 10 years, the West African country's military leader said in a statement on Friday.
Mali, one of Africa's leading gold producers, resolved a dispute in November with Barrick over profit-sharing and control of the Loulo-Gounkoto gold mining complex after two years of negotiations, sparked by a 2023 mining code that raised taxes and increased the state's stake in projects.
Barrick agreed to withdraw its arbitration case at the World Bank's dispute tribunal, while Mali said it would drop all charges against the Canadian miner and its affiliates, release the company's employees and return operational control of the complex to the Canadian miner.
As part of the permit renewal process, Barrick carried out a new feasibility study that identified economically viable reserves supporting six years of open-pit mining and 16 years of underground mining, with gross annual production estimated at 420 920 ounces, the statement said.
The Loulo-Gounkoto mining complex in western Mali is the country's largest producer and Barrick's most profitable mine, generating almost $900-million in revenue in 2024.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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


















