Barrick CEO says he has ‘no doubt’ gold miner will resolve conflict in Mali.
The head of Barrick Gold Corp. says he’s confident that a resolution will be reached between his company and the Malian government, currently embroiled in a dispute over revenue distribution from one of the largest gold mines in Africa.
In an interview with BNN Bloomberg on Wednesday, Barrick’s CEO Mark Bristow said despite recent reports that talks between the company and Malian authorities had broken down, both sides continue to communicate with the aim of reaching an agreement.
The dispute over Toronto-based Barrick’s Loulo-Gounkoto complex, the largest gold mine in the country, stems from a request from Mali’s government for a one-time settlement payment related to adherence to new mining rules that came into effect in 2023, according to Bloomberg News.
Last month, Mali seized approximately three tons of gold from the mine, and Bristow confirmed that four Barrick employees, reportedly taken into custody in November, are still being detained by Malian authorities. Mali’s government issued an arrest warrant for Bristow in December.
“We’ve been a significant contributor to the treasury, and so if you look at the past couple of years, in 2023 we paid $400 million to the treasury, in 2024 we paid $460 million to the treasury, and this year, we would have paid a whole lot more because the gold price is up.
Source: BNNBLOOMBERG
