Canadian mining giant Barrick Gold reopened its Bamako office on June 23, 2025, following months of suspension under a provisional administration imposed by the commercial court.
The reopening comes amid ongoing fiscal tensions and Mali’s push to assert greater sovereignty over its natural resources. Former minister Soumana Makadji, appointed interim administrator, is set to visit the Loulo-Gounkoto complex—responsible for 14% of Barrick’s global production—to oversee the phased restart of operations.
Mali, which currently holds a 20% stake in the mine, seeks to increase its ownership to 35% under proposed reforms to the mining code.
The mine’s shutdown has reportedly led to a $1.24 billion loss for Barrick in 2025. Nevertheless, Malian authorities project a rebound in gold output, with expected annual production rising to 54.7 tonnes.
