Mali seizes Barrick Mining gold complex amid tax and ownership conflict

Edited by :  Reda El Ghazal

Mali seizes control over the Loulo Gounkoto gold complex, the Malian government escalates its dispute with Barrick Mining regarding tax claims and ownership rights. Appoint a former health minister as interim administrator, the court responds to a series of state actions including export bans and the confiscation of several tons of gold. Close the site, once responsible for 14 percent of Barrick’s output, since January as tensions intensify.

Apply legal and political pressure, the government justifies its intervention by referencing national interest and the need to restart production while gold prices remain at record highs. Seek broader authority through a revised mining code, Mali aims to increase its share of revenues as a stakeholder. Reject the allegations, Barrick announces plans to appeal the court decision and excludes the mine from its 2025 production forecast.

Continue negotiations outside the courtroom, both parties attempt to finalize a new operating contract before Barrick’s license expires in February 2026. Allow Barrick to transfer 20 percent of its earnings abroad under specific terms, Mali sets a precedent for foreign mining operations in the country.