Barrick Gold is committed to resolving its dispute with the Malian government over new mining regulations affecting its gold operations, having temporarily suspended activities after government actions against gold exports. The company is awaiting formal approval of a recently signed agreement to address the situation, maintaining employee compensation amid operational disruptions.
Barrick Gold Corporation has reaffirmed its commitment to resolving the ongoing dispute with the Malian government regarding its mining operations. According to Sebastiaan Bock, the Chief Operating Officer for Africa and the Middle East, the company is actively engaged in discussions to reach a resolution beneficial to both parties. This conflict arose following the introduction of Mali’s new mining code, which mandates increased state ownership of the Loulo-Gounkoto gold mining complex.
As of January 13, Barrick was forced to temporarily halt mining activities after the Malian government seized approximately three metric tons of gold from its facilities, coupled with the government’s restrictions on gold exports since early November. Recent reports indicated that Barrick had entered into an agreement aimed at resolving the dispute, pending formal approval from the state. While progress is being made, the finalization of the agreement has not yet occurred, reflecting previous instances where similar agreements took time to secure governmental endorsement.
In an internal memo, Mr. Bock noted, “There are no major updates at this stage,” sustaining the current status of operations until further notice. Despite the operational halt, the company has assured that salaries and annual bonuses for employees will continue, albeit there are reports of overdue payments to some suppliers related to the complex.
In conclusion, Barrick Gold remains invested in finding a mutually advantageous resolution to its dispute with the Malian government, following a series of challenges linked to mining regulations. The company’s operations remain paused, with employees’ compensation being upheld during this period. The process of finalizing agreements in Mali has historically encountered delays, indicating a similar trajectory for Barrick’s current negotiations.
Original Source: www.mining.com
