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Barrick is 'committed' to a'mutually beneficial resolution' in Mali

In a memo that was seen on Saturday, Barrick Gold's chief operating officer for Africa & the Middle East stated in a memo that it remains "fully committed and engaged" to finding a resolution with Mali which is mutually beneficial to both parties.

Since 2023, the Canadian miner Barrick and the Malian government are locked in a dispute over the new mining code of this West African nation. This code gives the Malian state a larger share in Barrick’s Loulo-Gounkoto Gold Mining Complex.

Barrick announced on 13 January that it had been forced to suspend its mining operations in Mali following the seizure of around three metric tonnes of gold from its complex by the government. Since early November, the government has been blocking Barrick's gold exports.

Reports on February 19, 2019 stated that Barrick signed an agreement to settle the dispute. The state then approved the agreement.

One person involved in the process said that the deal was taking time to finalise, even though there have been no major problems since then.

According to a person familiar with previous deals, it took the government "some time" before they signed deals with other Mali mining companies.

Sebastiaan Bok, the CEO of the company, sent a memo to its staff on Saturday. He said that there were "no major developments at this time".

He said: "As a gentle reminder, until further notice all non-critical activities will be temporarily paused."

Staff salaries and bonuses were not affected by the suspension. One of the complex's vendors told Barrick in early March it owed two months of payments.

(source: Reuters)