Barrick to Pay Mali $430M to End Mine Dispute

November, 2025 Markets – Top Companies Africa, Canada, USA, Gold
Barrick Mining (NYSE: B; TSX: ABX) has agreed to pay 244 billion CFA francs ($430 million) to settle a two-year dispute with Mali over the Loulo-Gounkoto gold mining complex, according to Bloomberg.

The Toronto-based miner confirmed in a press release that the Malian government has dropped all charges against Barrick and its affiliates, restoring operational control of Loulo-Gounkoto to the company. As part of the deal, Mali will also release four Barrick employees who have been detained for a year.

The settlement includes a $430 million payment within six days of signing, plus an additional 50 billion CFA francs through VAT-credit offsets. A similar installment was already paid last year. In return, Barrick will withdraw its arbitration case filed with the World Bank tribunal in December, after Mali’s junta-led government blocked gold shipments from the site.

The resolution ends a protracted standoff that began in 2023 when Mali introduced a new mining code and demanded higher taxes and economic benefits. The dispute escalated in 2024 when the state seized Barrick’s gold, suspended operations, and placed the mine under provisional administration.

Loulo-Gounkoto, one of Africa’s largest gold assets, produced 723,000 ounces in 2024, ranking among the world’s top 10 producers. Barrick holds an 80% stake, with Mali retaining 20%. Analysts at Jefferies estimate the restart and ramp-up could take six to 12 months.

Barrick’s shares surged to a 52-week high of $39.96 in New York following the announcement, before easing at Tuesday’s open. Year to date, the stock has gained more than 145%, outperforming rivals Newmont and Agnico Eagle Mines.

The settlement also marks a leadership transition for Barrick, which saw the departure of former CEO Mark Bristow earlier this year. Bristow had played a pivotal role in developing Loulo-Gounkoto and navigating the company’s African operations.