Mali’s government has signed a new agreement with Canadian mining company Barrick Gold, marking the end of a two-year-long dispute that strained their relations.
Before reaching this agreement, a delegation of over 15 Malian ministry representatives and private consulting firm Iventus Mining conducted a three-day inspection of Barrick’s mining complex.
This resolution is expected to boost Barrick’s operations, especially as gold prices reach record highs, though investors have yet to see a corresponding increase in the company’s share performance.
Under the agreement, Barrick will pay 275 billion CFA ($438 million) to the Malian government. In exchange, Mali will release detained employees, return seized gold, and allow mining operations to resume at the Loulo-Gounkoto mine.
