Barrick Gold Corporation (NYSE)(TSX) has reached an agreement with the government of Mali to pursue a global resolution to the ongoing claims and disputes involving Barrick’s Loulo and Gounkoto gold mining operations.
The specifics of the agreement, primarily based on Barrick’s initial proposals, will be disclosed once the settlement terms are finalized.
Mark Bristow, Barrick’s president and chief executive, stated that the company’s beneficial partnership with the Malian government has lasted for 30 years, with any differences with various regimes being resolved amicably.
“The current negotiations have been challenging, but we are encouraged by the government’s acknowledgment of the necessity of ensuring the long-term sustainability of the Loulo-Gounkoto complex, which significantly contributes to the Malian economy. We are eager to collaborate with the government to restore our enduring partnership,” Bristow said.
