Canadian mining giant Barrick and the Government of Mali have reached an agreement to end their months-long dispute over the Loulo-Gounkoto gold complex, one of the largest gold operations in the world.
The breakthrough follows a June 2025 Court ruling that temporarily placed the mine under state-appointed management amid rising tensions over alleged tax arrears.
Barrick confirmed on Monday, November 24, that operational control of the site will be returned to the company and that all charges against the firm, its subsidiaries and its employees will be dropped. The company also said legal processes to secure the release of four detained employees are under way.
Malian authorities described the agreement as marking “the end of a period of conflict,” following a meeting between senior government officials and a Barrick delegation. The company holds an 80% stake in the Loulo-Gounkoto complex, with the remainder owned by the Malian state.
The mine contributed approximately $1 billion to Mali’s economy in 2023, according to Mining Technology. The Malian Government said the resumption of normal operations is a welcome development for employees, surrounding communities and the wider economy. Mali had previously accused Barrick of owing more than $500 million in taxes.