The Malian government has reached a comprehensive settlement with Canadian mining Company – Barrick Mining, bringing an end to all ongoing legal and arbitration proceedings linked to the Loulo-Gounkoto gold mining complex in the west of the country.
According to reports, the deal includes a payment of US$430 million (approximately 244 billion CFA francs) by Barrick to resolve a series of financial and tax-related disputes that have strained relations between the company and the Malian state in recent months.
In a statement, Barrick said the agreement requires both sides to withdraw all legal actions and allegations involving the company, its subsidiaries and its employees.
The company added that the process to secure the release of four detained employees would begin immediately.
The settlement also ends the provisional state-led administration installed at the Loulo-Gounkoto complex. Under the terms of the agreement, full operational control of the site will return to Barrick, a step the company described as opening “a constructive path” for the continuation and stabilisation of operations at one of Mali’s most important gold-producing assets.
In exchange, Barrick’s subsidiaries will formally withdraw their cases before the International Centre for Settlement of Investment Disputes (ICSID), closing another chapter in the long-running dispute.
The resolution marks a significant move towards restoring stability in Mali’s mining sector, which plays a central role in the country’s economy.
Malian authorities say they hope the agreement will help fully normalise operations at the mines and reinforce investor confidence following months of tension with one of the industry’s biggest players.
