Mark Bristow, CEO of Barrick Gold, is optimistic about resolving the conflict with Mali over gold mine revenue disputes. Despite claims of stalled negotiations, he asserts both parties maintain communication. The conflict includes a request from Mali for a one-time settlement regarding new mining rules and the recent seizure of gold from the mine. Bristow emphasizes Barrick’s economic contributions to Mali, indicating a willingness to engage in constructive dialogue.
Barrick Gold Corp.’s CEO, Mark Bristow, expressed confidence that the company will find a resolution to its ongoing dispute with the Malian government regarding revenue distribution from the Loulo-Gounkoto gold mine. In a recent interview, he clarified that, despite reports of stalled negotiations, communication between Barrick and governmental authorities is ongoing.
The disagreement arises from a request by Mali’s government for a one-time payment related to new mining regulations established in 2023. Reports surfaced that talks had broken down, but Bristow insists that engagement continues.
Tensions escalated when Mali seized around three tons of gold from the Loulo-Gounkoto mine and detained four Barrick employees. Bristow noted that the government issued an arrest warrant for him in December, adding that the detention of the executives is unfair and distressing.
Bristow emphasized Barrick’s historical contributions to Mali’s economy, stating the company paid $400 million in taxes in 2023 and $460 million in 2024. He believes that an open dialogue could lead to resolving the accusations and disputes at hand.
The situation between Barrick Gold and the Malian government highlights ongoing tensions over mining regulations and revenue agreements. Despite challenges, Bristow remains optimistic about finding a resolution, citing past experiences in navigating complex negotiations in Africa’s gold industry. Barrick’s significant financial contributions to Mali reinforce their imperative to resolve these issues amicably.
Original Source: www.bnnbloomberg.ca
