Mali has accused Barrick Gold ABX.TO of not fulfilling commitments in a recent agreement.
The Canadian miner denied these charges on Thursday, asserting it did not accept any claims of wrongdoing.
On September 30, Barrick announced it had reached an agreement with the Malian government.
This agreement aimed to resolve disputes over the Loulo and Gounkoto gold mines.
The announcement followed the temporary detention of four Malian staff members working for the company.
In a joint statement dated October 23, Mali’s economy and mines ministries raised concerns.
They claimed Barrick had not honored commitments made in the agreement. However, specific details about the alleged breaches were not provided.
The ministries noted these breaches related to environmental and corporate social responsibility issues.
They also mentioned violations of foreign exchange rules. Mali expressed concerns about serious risks to Barrick’s continued operations in the country.
“The Malian government has decided to draw all legal consequences from Barrick Gold’s actions,” the ministries stated.
One of the company’s operating licenses is set to expire at the beginning of 2026.
In response, Barrick reiterated its commitment to act in good faith.
The company emphasized it has been actively negotiating with the government since September 30.
It highlighted a recent payment of $85 million made to the Malian government during these ongoing negotiations.
