BARRICK Gold Corporation has called on the Mali authorities to finalise a long-negotiated gold mining agreement that remains unsigned, warning of mounting economic damage and a worsening humanitarian toll. The Canadian-based miner confirmed it has consistently negotiated in good faith, yet escalating actions from Malian authorities have stalled progress and put its operations—and workers—at risk.
In a statement this week, Barrick said the deal was fully negotiated and accepted by Mali’s Ministry of Finance as far back as February 2025. Yet, despite signing the finalised version presented by the government, authorities have since failed to countersign or implement it. The company believes the blockage stems from a small group of individuals prioritising political or personal agendas over Mali’s broader national interest.
‘Barrick has acted constructively throughout, making concessions and paying $85 million during negotiations since the October 2024 framework agreement,’ the company said. However, it now faces a series of state-imposed hurdles, including the closure of its Bamako office, the threat of state intervention in its Loulo-Gounkoto mine, and ongoing suspension of gold exports.
Employees detained and shipments blocked
The situation has taken a more severe turn with the arrest and continued detention of several Barrick employees. The company maintains that the charges are unfounded and insists that these Malian nationals are being unfairly held without due process.
Barrick has expressed concern not just for its business, but for the human and economic implications of the Government’s stance. ‘It is unjust to demand tax payments on revenues that the state itself is actively preventing through the suspension of gold exports,’ said a company spokesperson.
The Loulo-Gounkoto mine is one of Mali’s most strategic assets, both in terms of employment and its contribution to the national budget. Barrick argues that its reopening would immediately generate vital tax and royalty revenues, currently being withheld due to the Government’s inaction.
A longstanding partner now threatens legal action
Despite the mounting pressure, Barrick reaffirmed its commitment to Mali, stating it remains ready to implement the agreement and resume full operations. The company continues to pay its workforce and support the local supply chain, even as revenue streams dry up.
However, Barrick also warned that patience is running thin. If the deadlock continues, the miner said it is prepared to pursue international arbitration and legal remedies against both the Government and any individuals it believes are acting in bad faith.
‘This situation is not sustainable,’ the statement read. ‘The future of a world-class mine—and the livelihoods of thousands of Malians—now hangs in the balance.’
Barrick concluded by urging Mali’s leadership to act in the interests of its people and economic stability by concluding the already negotiated deal. The company maintains that honouring the agreement would unlock significant national revenue and bring about the release of its detained employees.
