Canadian gold mining company, Barrick Mining, says it has resolved its months-long dispute with Mali’s ruling junta over one of the world’s largest gold deposits.
Barrick Mining said in a statement that control of the Loulo-Gounkoto complex, located in western Mali, near the border with Senegal, would be returned to the company.
The two sides have been in a dispute since 2023 over the implementation of a new Malian mining code that raises taxes and gives the government a greater share of gold mines.
In January 2025, Barrick Mining suspended operations at the complex, and a local court appointed a provisional administrator in June to restart operations, although blasting only began in October, Reuters news agency reported.
According to a source quoted by Reuters , the two sides met for talks on Friday, one week after Barrick's interim CEO Mark Hill wrote a letter to Mali's administration asking to restart negotiations.
The talks included a renewal of Barrick's mine license, which expires in February 2026, for an additional 10 years, the release of four Barrick employees arrested in Mali, and the return of 3 metric tonnes of gold seized by Malian officials, the source stated.
The two sides also discussed the dropping of arbitration proceedings initiated by Barrick against the State of Mali.
Following the agreement, operational control over the complex will be handed back to Barrick.
Barrick also confirmed that all charges against the company, its affiliates, and employees would be dropped.
The Malian authorities did not immediately comment on the announcement.
