Barrick’s Fast-Track Arbitration Bid Rejected in Mali Mining Dispute

The Mali-based Loulo-Gounkoto complex includes Loulo underground mines, Yalea Gara and the Gounkoto open pit mine. (Image by Randgold Resources)

Barrick Mining’s attempt to expedite its arbitration case against the government of Mali has been denied by the World Bank’s arbitration body, the International Centre for Settlement of Investment Disputes (ICSID), according to sources familiar with the matter.

The dispute centers on Mali’s revised mining code, introduced in 2023, which increases tax burdens and grants the government a larger stake in gold mining operations. Barrick, which operates the Loulo-Gounkoto complex in western Mali, initiated arbitration proceedings in December 2024, citing concerns over regulatory changes and operational interference.

Barrick’s request for urgent intervention included several critical issues: the detention of four staff members, the appointment of a provisional administrator to oversee the Loulo-Gounkoto site following Barrick’s suspension of operations, and the looming expiration of the Loulo mine’s licence in 2026.

ICSID confirmed on its website that it issued an order regarding “provisional measures” last Wednesday but did not disclose further details. Barrick declined to comment, and requests for statements from ICSID and Mali’s Ministry of Mines went unanswered.

The Loulo-Gounkoto complex—comprising the Loulo underground mines, Yalea Gara, and the Gounkoto open pit—is one of Mali’s most productive gold assets. The arbitration outcome could have significant implications for foreign investment and regulatory stability in West Africa’s mining sector.