Mali moves to sell gold from Barrick mine to fund restart, sparking legal clash
Mali’s court-appointed administrator plans to sell one metric ton of gold from Barrick Gold’s Loulo-Gounkoto mine to fund the site’s operations.
This move follows a nearly six-month halt after the Malian government seized gold stocks, prompting Barrick to suspend operations and initiate international arbitration, sources told Reuters, News.Az reports.
The planned sale, worth around $107 million, would help cover salaries, fuel, and contractor debts. However, Barrick CEO Mark Bristow called the restart “illegitimate,” warning of long-term damage and vowing legal action.
The administrator, former health minister Soumana Makadji, has begun efforts to resume production, but challenges loom. Experts say it could take months to restore normal operation, longer without Barrick’s involvement.
The dispute reflects growing tensions between West African military governments and international miners, as nations like Mali seek greater control and revenue from gold amid soaring global prices.
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