Mali grants ten-year renewal for Barrick’s Loulo project permit

Core Insights - The Government of Mali has extended Barrick Mining's Loulo project gold mining permit by ten years following the resolution of a dispute regarding profit-sharing and control of the Loulo-Gounkoto complex [1][2] - Barrick has agreed to withdraw its arbitration case with the World Bank, while Mali has committed to dropping legal charges against Barrick and restoring full operational control [2] - A new feasibility study indicates that the Loulo-Gounkoto complex has economically viable reserves supporting six years of open-pit mining and 16 years of underground operations, with projected annual gold production of 420,920 ounces [3] Financial Performance - The Loulo-Gounkoto complex generated nearly $900 million (C$1.23 billion) in revenue in 2024, making it Mali's largest gold producer and a significant contributor to Barrick's financial performance [3] Recent Transactions - In November 2025, Barrick completed the sale of the Hemlo Gold Mine in Canada to Carcetti Capital for up to $1.09 billion, which included $875 million in cash and additional payments tied to production levels and gold prices [4]