Barrick Gold Strikes Deal With Mali: Mines Back In Play After Months Of Standoff

Big win for Barrick Gold this week. The mining giant and Mali’s government have settled their dispute over the Loulo-Gounkoto mines—a complex that’s been basically in limbo since tensions escalated earlier this year.

Here’s what changed:

Control Returns: Barrick regains operational control of the mines. The provisional administration that Mali had put in place? Done. This is huge for their West Africa production pipeline.

Charges Dropped: All legal charges against Barrick, its units, and employees are being withdrawn. Plus, four Barrick employees who were detained will be released.

Arbitration Withdrawn: Barrick is pulling its ICSID claims (basically their nuclear option for investor disputes), which signals they’re betting on working with Mali rather than fighting it out in international court.

What This Means: Loulo-Gounkoto is one of Barrick’s largest African operations. Months of uncertainty killed their ability to plan long-term capex and rattled investor confidence. This settlement could unlock delayed production and restore some predictability.

The real test? Whether this “constructive partnership” actually holds or if it’s just both sides cooling down for now. Mining in politically volatile regions always comes with asterisks.