Barrick has confirmed it has “regrettably” initiated the process to suspend operations at the Loulo-Gounkoto complex in Mali, at least temporarily, amid ongoing shipping restrictions.
The move has been a consideration since the gold shipping issue arose, and was mentioned as a potential issue last month when the company received an attachment order on its gold from the Malian government. The latter is now moving existing gold stock from the site to a custodial bank.
Various media outlets have indicated a seizure of gold totaling $245 million.
“Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities,” president Mark Bristow said.
He also noted earlier this month that the inability to ship gold not only affects operations, but has broader implications for the local economy, the 8,000 employees and its many local service providers.
The shipping restrictions have been ongoing since November 2024.
Source: www.barrick.com