Barrick Mining and Mali reached an agreement on Nov. 24, 2025, ending a two-year dispute over the Loulo-Gounkoto gold complex in western Mali. The conflict centered on Mali’s 2023 mining code, which allows the state to take as much as 30% ownership of a new mining project, and on taxes, customs obligations and the terms governing Barrick’s existing operations.
The dispute escalated after Mali restricted gold exports from Loulo-Gounkoto in November 2024. Four Barrick employees were detained on criminal charges on Nov. 25, 2024, and an interim order issued in January 2025 led to the removal of gold stocks from the mine site to a custodial bank. Barrick then temporarily suspended operations on Jan. In June, a commercial tribunal placed the complex under six months of provisional administration, transferring day-to-day management to a government-appointed administrator.
Under the settlement, Barrick agreed to accept the 2023 mining code for the complex and withdraw arbitration claims filed with the International Centre for Settlement of Investment Disputes. Mali agreed to end the provisional administration, drop charges against Barrick, its affiliates and employees, and begin the legal process for releasing the four detained workers. The agreement also included renewal of the Somilo exploitation permit for 10 years and the return of about three tonnes of gold seized during the dispute.
The settlement’s implementation continued after the announcement. Operational control returned to the mine’s management on Dec. 16, the attached gold stock was returned two days later, and the complex resumed gold production. Loulo and Gounkoto are operated through separate companies in which Barrick holds an 80% interest and Mali holds 20%, making the agreement a change in the regulatory and operating framework for one of the country’s major gold assets.