Barrick could suspend operations at Mali mine if shipping restrictions not resolved
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Hey there, time traveller!
This article was published 06/01/2025 (339 days ago), so information in it may no longer be current.
TORONTO – Barrick Gold Corp. says if its inability to ship gold from its Loulo-Gounkoto mine in Mali is not resolved within the coming week it will have to temporarily suspend operations at the mine.
The company is embroiled in a dispute with the government in Mali which is trying to pressure companies in its crucial mining sector to pay millions in additional taxes.
The latest comments came as Barrick faces a restriction on shipping gold from the mining complex in Mali.
It says it now faces an interim attachment order that prevents the export of the existing gold stock on site and disrupts normal operations.
Barrick says it believes the order is unwarranted and is in contravention of the agreed dispute resolution mechanisms.
The company has submitted a request to the International Centre for the Settlement of Investment Disputes in an effort to resolve its dispute with the government in Mali.
This report by The Canadian Press was first published Jan. 6, 2025.
Companies in this story: (TSX:ABX)