Barrick President and CEO Mark Bristow has underscored the crucial need to ensure the long-term sustainability of the Loulo-Gounkoto gold mining complex to bolster Mali’s mining industry and its substantial economic contributions. Addressing local media and stakeholders, Bristow highlighted Barrick’s $10bn investment in Mali over the past 29 years, with its mines contributing between 5 percent and 10 percent to the country’s GDP annually. Last year alone, Barrick injected over $1bn into Mali’s economy.
‘We are committed to working towards a global resolution of our differences and finding common ground on sharing the economic benefits of our operations without jeopardising their future viability,’ Bristow said. He pointed to Barrick’s successful benefit-sharing partnership in Tanzania, which has been used as a model for the reopened Porgera mine in Papua New Guinea.
Bristow expressed concerns over the current economic and political climate in Mali, which has led some exploration companies to reduce or suspend their operations, potentially impacting gold production in the long term. Despite these challenges, Barrick is engaging with the National Directorate of Geology and Mines (DNGM) to expand its exploration efforts, ensuring continued value delivery to Mali and its stakeholders.
Bristow’s remarks emphasised Barrick’s proactive approach to maintaining a stable and productive relationship with Mali, even amid economic and political uncertainties. The Loulo-Gounkoto complex remains a vital asset not only for Barrick but also for the economic stability and growth of Mali.
