Barrick and Mali Reach Comprehensive Agreement to Settle Gold Mine Dispute and Restore Operations

Barrick Mining and the government of Mali have finalized a broad settlement that ends a prolonged dispute over the Loulo-Gounkoto gold complex and restores full operational control to the company.

Barrick Mining has reached a wide-ranging agreement with the government of Mali to resolve all disputes involving the Loulo-Gounkoto gold mining complex, bringing an end to two years of uncertainty for one of the country’s most important economic assets.

The settlement follows intensive negotiations and marks a significant shift in relations between the mining giant and Mali’s authorities after a prolonged period of tension over regulatory changes and operational control. The agreement immediately lifted investor sentiment, with Barrick’s shares rising in early trading.

Under the terms of the settlement, Barrick will withdraw its arbitration case at the World Bank’s dispute tribunal, where it had challenged Mali’s actions regarding the mine.

In return, Mali has committed to dropping all charges against Barrick and its affiliates, releasing four detained employees, and restoring full operational authority to the company.

The move signals a mutual recognition that continued standoff would undermine both investment confidence and Mali’s mining output at a time when global demand for gold remains elevated.

The government has also agreed to extend Barrick’s mining permit for an additional ten years, providing a longer horizon for planning and operations.

As part of the deal, Barrick will sign Mali’s 2023 mining code, which remains a central point of debate between foreign investors and the state.

The new code grants Mali a larger share of mining revenues, reflecting the country’s goal of securing more benefits from its natural resources in an era of historically high gold prices.

Talks were reportedly revived after Barrick’s interim leadership reached out directly to Mali’s government to prioritise resolution.

The renewed dialogue came at a critical moment as earlier tensions had escalated, including the government seizing three metric tons of gold and placing a provisional administrator in charge of the mine.

These actions prompted Barrick to write off substantial revenue and contributed to executive departures within the company. Despite the turbulence, the mine has remained strategically important for both sides.

The Loulo-Gounkoto complex has long been one of Barrick’s most profitable operations, generating hundreds of millions of dollars annually.

Its importance to Mali’s economy is equally significant, providing employment, export revenue, and fiscal contributions.

The new agreement may restore stability to the site, though analysts caution that the broader regulatory environment remains challenging for multinational operators.

Some industry observers believe that Barrick may ultimately reconsider its long-term presence in Mali if regulatory uncertainty continues.

Mali’s shift to a new mining code has been viewed differently by various stakeholders. Supporters argue that the updated regulations seek fairer economic participation for the state, especially when global gold prices are at record highs.

Critics, however, say that the rules create ambiguity and make long-term planning more difficult for international companies that operate capital-intensive mines requiring predictable investment conditions.

These differing perspectives have contributed to ongoing tension between government priorities and foreign investor expectations.

The resolution marks an important turning point, but both sides acknowledge that the operational landscape could still evolve.

The government is seeking more stable and transparent frameworks for managing resource wealth, while companies like Barrick are looking for reliability and protection of investment.

The new arrangement provides breathing room for both to strengthen cooperation while adapting to shifting economic realities.

As global markets continue to respond to fluctuations in gold demand, energy costs, and geopolitical uncertainties, mining companies face increasing pressure to balance commercial objectives with regulatory, environmental, and national expectations.

The agreement between Barrick and Mali reflects how dialogue and compromise can restore clarity even after prolonged disputes.

For now, the restoration of operational control and the extension of the mine permit offer a path back to stability for one of West Africa’s most significant gold assets.