Barrick Mining’s attempt to accelerate its international arbitration case against Mali has been rejected, according to two sources familiar with the matter.
The dispute stems from Mali’s 2023 mining code, which raises taxes and grants the state a larger share of gold production, deepening tensions between the government and the Canadian mining giant.
Barrick filed its case with the World Bank’s arbitration body, the International Centre for Settlement of Investment Disputes (ICSID), in December 2024. The company sought urgent intervention over several issues tied to the conflict.
These included the detention of four employees, the government’s appointment of a provisional administrator to oversee the Loulo-Gounkoto gold complex, and the looming expiration of the Loulo mine’s operating licence in 2026.
ICSID declined Barrick’s request for an expedited process this week, the sources said, signaling the legal standoff may stretch on for months.
On its website, ICSID confirmed issuing an order on “provisional measures” Wednesday but offered no further details.
Barrick refused to comment, while Mali’s Ministry of Mines and ICSID did not respond to Reuters’ inquiries.
The rejection marks a setback for Barrick as it struggles to protect one of its most lucrative African operations amid tightening government control over natural resources.
Analysts say the decision underscores the rising tension between global mining firms and resource-rich African states seeking greater revenue and sovereignty over their minerals.
For Barrick, the road ahead appears uncertain, with production halted, staff detained, and the clock ticking toward Loulo’s licence expiry.
