The Canadian mining company Barrick Gold announced this Tuesday, January 14, 2024, that it would suspend its operations at the Loulo-Gounkoto gold site after the seizure of gold stocks by the Malian junta in the midst of a conflict over revenue sharing.
“The company continues to be prohibited from shipping gold from the Loulo-Gounkoto mining complex to Mali. In addition, the preventive seizure order against the gold stock has now been executed by the government of Mali, which has transferred the existing gold stock on the site to a custodian bank.Barrick said in a press release.
“As a result, Barrick was forced to initiate the temporary suspension of operations while continuing to work towards a resolution”she said.
The industrialist and the Malian state have been engaged in a standoff for months around the Loulo-Gounkoto complex, in a general context of increased pressure exerted on foreign mining companies.
The military who came to power by force in 2020 are seeking to obtain a greater share of the revenues generated by extractive activities, including those from the underground and open-air complex of Loulo-Gounkoto (west), of which Barrick Gold holds 80%. and the Malian State 20%.
The authorities implemented a court order last weekend to seize the site’s gold stocks. A helicopter loaded the metal from the site, a security official said.
It took away more than three tonnes, said an industrial source, also speaking on condition of anonymity.
-When questioned several times, Barrick did not confirm the quantity of gold present on site or its value.
Mali, one of the poorest countries in the world, also faced with jihadism and a multidimensional crisis, is one of the leading producers of gold in Africa.
This precious metal contributes to a quarter of the national budget and three quarters of export earnings.
With AFP
Belgium
