Barrick Gold has reaffirmed its long-standing commitment to Mali, saying its partnership with the country remains strong despite ongoing legal challenges. The company has operated in Mali for nearly three decades, combining international expertise with local talent to build one of Africa’s most successful gold mining operations.
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Barrick said its relationship with Mali extends beyond business, reflecting a shared vision of value creation and responsible mining. “Barrick remains committed to Mali even through today’s extraordinary and unprecedented challenges,” the company said in a statement.
It also expressed concern for employees who have been detained since November 2024, noting that efforts are ongoing to secure their release through dispute resolution processes that serve all stakeholders.
The company maintains that its position is legally sound and backed by international law. “We remain engaged with the Government of Mali and continue to advance multiple pathways toward a resolution,” Barrick stated, adding that its legal case under the International Centre for Settlement of Investment Disputes (ICSID) arbitration process rests on strong legal foundations and guarantees independent adjudication.
Barrick outlined key aspects of its position, including binding protections under its Mining Conventions, consistent compliance with Malian laws, and the absence of any legal basis for day-to-day operations to be handed to a court-appointed administrator. The company said it has always operated with transparency and integrity throughout its decades-long presence in the country.
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The Loulo-Gounkoto mining complex, Barrick’s flagship operation in Mali, highlights the scale of the company’s contribution to the national economy. The site employs about 8,000 people, 97% of whom are Malian nationals. Since its inception, the complex has contributed nearly $10 billion to the economy through taxes, royalties, salaries, and payments to local suppliers. Over the past decade, it has accounted for between 5% and 10% of Mali’s GDP.
Barrick said more than 70% of the economic benefits generated by the Loulo-Gounkoto complex have flowed directly to Mali, underscoring its commitment to sustainable development. “This isn’t just about mining, it’s about building economic foundations for Mali’s future,” the company noted.
As one of the world’s top ten gold producers and the largest business by enterprise value in West Africa, Barrick said its success in Mali is built on mutual respect and shared prosperity. The company reiterated that this partnership should form the basis for resolving current disputes and preserving a relationship that has brought long-term benefits to both sides.
“Barrick remains committed to Mali’s long-term success,” the statement concluded. “The Loulo-Gounkoto complex represents not just a mining operation, but a symbol of what international partnership can achieve when grounded in respect, transparency, and shared benefit.”