Barrick Gold warned on Monday that it would halt operations in Mali if the government does not lift restrictions on gold shipments within the week, amid rising tensions in the West African mining sector.
The dispute centers on a new set of mining regulations imposed by Mali’s military government, which has been renegotiating mining contracts for higher revenue shares after a series of coups. These political shifts have led Mali, along with Burkina Faso and Niger, to turn toward Russia for support, distancing themselves from traditional Western allies such as France and the United States.
Barrick’s Loulo-Gounkoto mining complex, which contributes around 14% of its projected 2025 gold output, has been caught in the standoff since 2023. The company claims that in addition to restrictions on shipments, an interim order has been issued by the government to prevent the export of approximately 4 tonnes of gold currently stored at the site, further disrupting operations.
The company stated that if the issue is not resolved in the next week, it will have no choice but to suspend operations at Loulo-Gounkoto.
A Barrick employee confirmed that preparations were underway for a potential suspension, and sources say mine workers have been informed of the situation. The company has also reported the detention of employees without cause and the blockage of bullion shipments.
The new mining regulations, which Mali insists apply to Barrick’s operations, were introduced in 2023, but Barrick argues that they should not affect existing contracts.
