Monday, May 12, 2025
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
Advertisement
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
No Result
View All Result
Home Investing

Barrick Gold Facing Mali Export Restrictions, May Halt Mine Operations

admin by admin
January 8, 2025
in Investing
0
Barrick Gold Facing Mali Export Restrictions, May Halt Mine Operations
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) remains unable to export gold from its Loulo-Gounkoto mining complex in Mali due to ongoing restrictions imposed by the country’s government.

In a Monday (January 6) press release, the company said the situation has escalated further with the issuance of an interim attachment order on the existing gold stock at the site, halting exports and impacting daily operations.

Mark Bristow, Barrick’s president and CEO, said the restrictions could force the company to suspend operations at the site if the dispute is not resolved in the coming week. He emphasized that Barrick views the attachment order as unjustified and contrary to dispute resolution processes previously agreed upon with Mali’s government.

Barrick is seeking arbitration through the International Center for the Settlement of Investment Disputes.

“In parallel, Barrick continues its efforts to reach an agreement with the Mali government on a memorandum of agreement to resolve the existing disputes, redefine the partnership’s future and increase the State’s share of benefits from the Loulo-Gounkoto complex,” Bristow added in the company’s announcement.

The mining complex, one of Barrick’s key operations in West Africa, employs approximately 8,000 people. Bristow indicated that suspending operations would be a last resort, but necessary to manage ongoing disruptions.

Barrick is engaging with the Malian government to reach an agreement that redefines their partnership. Discussions are also focused on increasing Mali’s share of the operation’s economic benefits via a memorandum of understanding.

The situation has been further complicated by the detention of several of Barrick’s Malian employees. According to the company, the charges against these workers are unfounded.

Bristow reiterated that securing the release of the detained employees and ensuring their safety remains a top priority.

Moving forward, the company will continue to pursue legal and diplomatic avenues to resolve its issues in Mali, while safeguarding the interests of its workforce and stakeholders.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Previous Post

U.S. Steel sues Biden admin, union boss after president blocks acquisition deal

Next Post

Perpetua Gets US Forest Service Approval for Stibnite Gold-Antimony Project

admin

admin

Next Post
Perpetua Gets US Forest Service Approval for Stibnite Gold-Antimony Project

Perpetua Gets US Forest Service Approval for Stibnite Gold-Antimony Project

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    • Trending
    • Comments
    • Latest
    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    October 28, 2024
    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    October 28, 2024
    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    October 25, 2024
    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    October 25, 2024
    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    0
    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    0
    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    0
    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    0
    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    May 11, 2025
    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    May 11, 2025
    India and Pakistan agree to a ceasefire, but will it hold? Here’s what to know

    India and Pakistan agree to a ceasefire, but will it hold? Here’s what to know

    May 11, 2025
    Ukraine ceasefire call aimed at forcing Putin to reveal his war goals to Trump

    Ukraine ceasefire call aimed at forcing Putin to reveal his war goals to Trump

    May 11, 2025

    Recent News

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    May 11, 2025
    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    May 11, 2025
    India and Pakistan agree to a ceasefire, but will it hold? Here’s what to know

    India and Pakistan agree to a ceasefire, but will it hold? Here’s what to know

    May 11, 2025
    Ukraine ceasefire call aimed at forcing Putin to reveal his war goals to Trump

    Ukraine ceasefire call aimed at forcing Putin to reveal his war goals to Trump

    May 11, 2025

    Disclaimer: financemasterynews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Investing
    • Stock
    • World-news

    Recent News

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    Pope Leo signals he will closely follow Francis and says AI represents challenge for humanity

    May 11, 2025
    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    The US takes credit for India-Pakistan ceasefire, but this Trump truce may not herald lasting peace

    May 11, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 financemasterynews.com | All Rights Reserved

    No Result
    View All Result

    Copyright © 2025 financemasterynews.com | All Rights Reserved