Barrick Mining and Mali Reach Settlement Ending Two-Year Dispute

Mali and Barrick Mining have ended their long-running dispute over the Loulo-Gounkoto gold complex after agreeing to drop legal cases, release detained staff, and restore full operations following months of tension triggered by Mali’s revised mining code.

Canadian mining firm Barrick Mining has reached a comprehensive agreement with the Malian government to end a protracted dispute over the Loulo–Gounkoto gold complex, bringing to a close a saga that has disrupted one of West Africa’s most significant mining operations since 2023.

The conflict began after Mali’s military-led government introduced amendments to the national mining code that increased taxes and expanded the state’s stake in mining projects. Barrick rejected the changes, arguing that they breached previous contractual guarantees and threatened the viability of its long-standing investments in the country.

Tensions steadily escalated. Malian authorities arrested several Barrick employees on allegations of financial misconduct, seized multiple tonnes of gold from company facilities, and issued an arrest warrant for former CEO Mark Bristow. Barrick responded by suspending operations and filing an arbitration case against Mali at the World Bank’s International Centre for Settlement of Investment Disputes.

Under the new agreement, Barrick will withdraw its arbitration claim, while Mali will drop all charges against the company and its staff, release detained employees, and restore full operational control of the Loulo–Gounkoto complex to the miner. The deal effectively ends months of legal and administrative stand-offs that had crippled production and created uncertainty in one of Mali’s most important revenue-generating sectors.

Industry analysts say the settlement offers the prospect of renewed stability, though the episode underscores how political decisions and regulatory shifts can send shockwaves through major extractive industries. For Mali, the dispute highlighted the delicate balance between asserting increased control over national resources and maintaining investor confidence. For Barrick, it marks the resolution of one of the most turbulent chapters in its African operations.

With operations returning to normal, both sides now face the task of rebuilding trust—and ensuring that the conflict does not deter future investment in a region where mining remains both economically vital and politically sensitive.