Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Barrick Gold Facing Mali Export Restrictions, May Halt Mine Operations

by admin January 8, 2025
January 8, 2025
Barrick Gold Facing Mali Export Restrictions, May Halt Mine Operations

Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) remains unable to export gold from its Loulo-Gounkoto mining complex in Mali due to ongoing restrictions imposed by the country’s government.

In a Monday (January 6) press release, the company said the situation has escalated further with the issuance of an interim attachment order on the existing gold stock at the site, halting exports and impacting daily operations.

Mark Bristow, Barrick’s president and CEO, said the restrictions could force the company to suspend operations at the site if the dispute is not resolved in the coming week. He emphasized that Barrick views the attachment order as unjustified and contrary to dispute resolution processes previously agreed upon with Mali’s government.

Barrick is seeking arbitration through the International Center for the Settlement of Investment Disputes.

“In parallel, Barrick continues its efforts to reach an agreement with the Mali government on a memorandum of agreement to resolve the existing disputes, redefine the partnership’s future and increase the State’s share of benefits from the Loulo-Gounkoto complex,” Bristow added in the company’s announcement.

The mining complex, one of Barrick’s key operations in West Africa, employs approximately 8,000 people. Bristow indicated that suspending operations would be a last resort, but necessary to manage ongoing disruptions.

Barrick is engaging with the Malian government to reach an agreement that redefines their partnership. Discussions are also focused on increasing Mali’s share of the operation’s economic benefits via a memorandum of understanding.

The situation has been further complicated by the detention of several of Barrick’s Malian employees. According to the company, the charges against these workers are unfounded.

Bristow reiterated that securing the release of the detained employees and ensuring their safety remains a top priority.

Moving forward, the company will continue to pursue legal and diplomatic avenues to resolve its issues in Mali, while safeguarding the interests of its workforce and stakeholders.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
McDonald’s is the latest company to roll back diversity goals
next post
Perpetua Gets US Forest Service Approval for Stibnite Gold-Antimony Project

Related Posts

Excellent Metallurgical Results at Hotinvaara Enhance Entire Pulju...

October 23, 2024

Maritime Resources

July 10, 2025

SAGA Metals Announces Non-Brokered Private Placement and Provides...

May 3, 2025

Fortune Minerals Announces New Convertible Security Agreement With...

July 31, 2025

Radisson Announces Upsize of Previously Announced Private Placement...

April 24, 2025

RIU Conference Presentation

May 6, 2025

Completion of Silver Acquisition & Appointment of New...

July 28, 2025

LaFleur Minerals Provides Supplemental Disclosure Related to BullRun...

February 28, 2025

Should You Invest in Silver Bullion? (Updated 2024)

October 24, 2024

Blackstone Completes Institutional Component of Entitlement Offer

November 6, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Biden didn’t want intel disseminated showing Ukrainian concerns over family’s ‘corrupt’ business ties: records

      October 8, 2025
    • Cruz clashes with Nigeria over his claims 50,000 Christians killed since 2009 in religious violence

      October 8, 2025
    • House committee withdraws James Comey subpoena for Jeffrey Epstein testimony

      October 8, 2025
    • Government limps deeper into shutdown crisis with no deal in sight

      October 8, 2025
    • Trump meets former Hamas hostage Edan Alexander on Oct. 7 anniversary

      October 8, 2025

    Categories

    • Business (1,116)
    • Investing (3,206)
    • Politics (3,906)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved