By Jamie Hyland, MiningIR
Barrick Mining Corporation (NYSE: B | TSX: ABX) announced in a news release today that it is bracing for a pivotal court ruling expected on June 2, as tensions escalate with the Government of Mali over control of the company’s Loulo-Gounkoto mining complex — one of West Africa’s most productive gold assets.
The ruling, to be handed down by the President of the Bamako Commercial Tribunal, follows the Malian government’s request on May 8 to place the site under provisional administration. A preliminary hearing was held on May 15, and Barrick’s legal representatives submitted a formal opposition on May 22.
Barrick asserts there is “no basis — either in law or in practice” for an interim administrator to take control of day-to-day operations, emphasizing that such a move would violate both Malian law and existing binding agreements. The company has described the government’s efforts as an “unprecedented” and “unlawful” attempt to interfere in a private enterprise.
This legal standoff comes amid broader tensions, including:
- The continued detention of several Barrick employees, held without resolution for over five months.
- The blockade of gold exports from the mine, a critical blow to both the company and Mali’s economy.
- The seizure of stockpiled production, compounding the disruption of operations.
Despite these challenges, Barrick has maintained monthly wage payments and operational support for its employees and contractors since reluctantly suspending operations.
In a letter sent last week to Mali’s Minister of Economy and Finances, Barrick reiterated its readiness to resume dialogue in hopes of securing the release of its employees and restarting operations — a move that would benefit not only the company, but also Mali’s economy and communities.
With nearly 30 years of presence in Mali, Barrick has long been a cornerstone of the country’s mining sector and socio-economic development. The company has already initiated international arbitration, invoking the dispute resolution mechanisms agreed upon under Mali’s Mining Conventions.
Barrick remains steadfast in its pursuit of justice for its unjustly detained employees and in defending the integrity of its investment against actions that risk undermining the long-term viability of the operations, stakeholder value, or the legal framework underpinning its presence in the country.
As the June 2 ruling nears, investors, stakeholders, and observers across the global mining sector are watching closely. Barrick’s firm stance underscores a broader concern: how emerging political pressures and legal unpredictability in resource-rich nations could impact foreign direct investment and long-term partnerships.
MiningIR will continue to monitor developments in this high-stakes dispute that could shape the future of international mining operations in West Africa.
