Barrick Reaffirms Commitment to Mali Amid Legal Dispute

Barrick Gold Corporation has reaffirmed its long-term commitment to Mali, emphasizing the strength of its partnership with the West African nation despite ongoing legal proceedings. The Canadian mining major, which has operated in Mali for nearly three decades, reiterated that its relationship with the government and local communities remains constructive and focused on shared prosperity. Barrick’s statement comes amid a legal dispute currently under arbitration, underscoring its determination to find a fair and mutually beneficial resolution while maintaining operational stability and its broader economic contributions to the country.

The company confirmed that its legal position is fully protected under Mali’s Mining Conventions and consistent with international law. Barrick has taken its case to the International Centre for Settlement of Investment Disputes (ICSID), a recognized platform for resolving international investment disagreements. Despite the dispute, Barrick stressed its ongoing engagement with Malian authorities and reaffirmed that dialogue remains open. The company also expressed deep concern for several employees detained since November 2024, confirming that it continues to work with relevant stakeholders to secure their release in a lawful and diplomatic manner.

At the operational level, Barrick’s Loulo-Gounkoto complex remains a cornerstone of both the company’s African portfolio and Mali’s mining economy. Employing about 8,000 people, 97 percent of whom are Malian nationals, the complex has become a flagship model for local employment and community development. Since its inception, Loulo-Gounkoto has contributed nearly $10 billion to Mali’s economy through taxes, royalties, wages, and procurement from local suppliers. Over the past decade, the operation has consistently accounted for 5–10 percent of Mali’s GDP, while more than 70 percent of total economic benefits from the mine have directly benefited the country.

Barrick emphasized that its partnership with Mali is rooted in transparency, respect, and long-term collaboration. Beyond mining, the company supports local infrastructure, health, and education initiatives, reinforcing its role as a key development partner in the region. As one of Africa’s most experienced gold operators, Barrick’s continued engagement in Mali reflects its broader philosophy of sustainable mining that prioritizes national growth and community well-being alongside operational success.

Mini-Glossary

• Mining Conventions: Legal agreements between mining companies and host governments outlining rights, obligations, and fiscal terms for mineral development.
• ICSID (International Centre for Settlement of Investment Disputes): A World Bank–affiliated body that resolves investment-related disputes between governments and foreign investors.
• GDP (Gross Domestic Product): The total value of goods and services produced within a country, used to measure economic performance.
• Royalties: Payments made by mining companies to governments based on production or revenue from extracted resources.
• Local Procurement: The sourcing of goods and services from local suppliers to support community and national economic development.