Excavation site showing archaeologists and visitors exploring the tomb of King Thutmose II.
Barrick Gold has inked a new agreement with Bamako to finally resolve a nearly two-year dispute over its mining assets in the country. The deal, which awaits the formal approval of the Malian government, will see Barrick pay the sum of $438 million in exchange for the release of detained employees, seized gold, and the resumption of operations at the Loulo-Gounkoto mining complex. The conflict began after Mali introduced a new mining code in 2023, giving the state a larger share of the gold mine. According to Mark Bristow, Barrick’s CEO, the shutdown affected both parties, with each losing the revenue that would have accrued to it. With the agreement expected to be ratified soon, that is expected to change.
Source: Reuters