Barrick Opposes Mali Government's Attempt To Take Over the Day-to-Day Operations at Loulo-Gounkoto, Has Continued to Support the Workforce

Core Viewpoint - Barrick Mining Corporation is facing a legal challenge from the Malian government regarding the Loulo-Gounkoto mining complex, with a court ruling expected on June 2, 2025, after the government requested provisional administration over the site [1][2]. Group 1: Legal and Operational Context - The Malian government submitted a request on May 8 to impose provisional administration over the Loulo-Gounkoto site, which Barrick contests as lacking legal basis [2]. - Barrick has maintained that the government's actions, including blocking gold exports and detaining employees, are unprecedented and without lawful justification [3][4]. - The company has continued to support its employees and contractors financially despite the suspension of operations, paying wages and maintaining operational support [3]. Group 2: Company’s Response and Actions - Barrick has reached out to the Malian Minister of Economy and Finances to discuss a satisfactory agreement for the release of detained employees and the resumption of activities [5]. - The company has operated in Mali for nearly three decades, contributing significantly to the local economy and social development, and is seeking a fair resolution to the dispute [6]. - Barrick has initiated international arbitration proceedings as per the dispute resolution mechanism outlined in the Mining Conventions [6].