Barrick Gold has signed a deal with Mali’s government to resolve a dispute over its mining assets, pending official approval. The agreement follows a halt in operations at the Loulo-Gounkoto complex due to conflicts over gold shipments and accusations against Barrick’s CEO. The positive market reaction suggests investor confidence in the resolution.
Barrick Gold Corp. has reached an agreement with the Malian government aimed at resolving a dispute regarding its mining operations in the country. Shares for the Canadian mining company surged following this news. The company is currently awaiting formal approval from Mali, with an official announcement expected shortly, as reported by Reuters.
The conflict escalated when Barrick suspended operations at the Loulo-Gounkoto mining complex in January, after the Malian government began confiscating gold shipments and restricting exports. Furthermore, Malian authorities accused Barrick’s CEO, Mark Bristow, of involvement in money laundering activities.
This agreement comes after previous negotiations between Barrick and Mali had stalled, prompting renewed discussions aimed at reaching a resolution. Stakeholders remain optimistic about the potential for progress now that a deal has been signed, pending governmental approval.
In summary, Barrick Gold has taken a significant step toward resolving its mining dispute with Mali through a signed agreement, pending government approval. This follows a period of operational suspension due to governmental actions against the company’s exports. The market reacted positively, reflecting investor confidence in the outcome of these negotiations. Continued monitoring of the situation is warranted as the approval process unfolds.
Original Source: financialpost.com
