Barrick Gold remains dedicated to resolving its ongoing dispute with the Malian government, according to a company memo seen by Reuters.
The dispute centers on Mali’s new mining code, which seeks a larger state share of Barrick’s Loulo-Gounkoto gold mining complex.
The Canadian miner’s African and Middle Eastern Chief Operating Officer, Sebastiaan Bock, reiterated their commitment to a “mutually beneficial resolution.”
The conflict escalated in January when Mali seized approximately three metric tons of gold stock, forcing Barrick to temporarily suspend mining operations.
This action followed the government’s blockade of gold exports since November.
While a tentative agreement was reached in February, formal approval from the Malian government is still pending.
Sources familiar with the situation indicate that the finalization of the deal is taking longer than anticipated.
Similar agreements with other mining companies in Mali have also experienced delays in government approval.
Bock’s memo to staff acknowledged the lack of “major updates at this stage,” and confirmed that non-critical operations remain paused.
Despite the suspension, Barrick has maintained staff salaries and annual bonuses.
However, a supplier reported overdue payments, highlighting the financial strain of the ongoing conflict.
The company continues to express hope for a swift and favorable resolution.
