Mali Threatens to Let Barrick Mine Permit Lapse Over Dispute
- Mali junta wants to discuss ‘transition phase’ for Loulo
- Miner, government have been in dispute over economic benefits
Gold bearing rock and iron ore moves along conveyor belts at the Loulo-Gounkoto mine complex in Loulo, Mali.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Mali’s military government has threatened to take back Barrick Gold Corp.’s Loulo mine concession when the current permit expires in 2026, amid an escalating dispute over how to divide the economic benefits from operations in the country.
Mali is considering letting the permit for Loulo lapse when it expires in February 2026, Finance Minister Alousseni Sanou said in an Oct. 18 letter sent to Barrick’s Chief Executive Officer Mark Bristow, and seen by Bloomberg. Mali “reserves the right not to renew the operating permit” and invited Barrick to talks on the mine’s “transition phase” starting later this month, Sanou wrote.