Barrick Gold Corp. (TSX:ABX, NYSE:GOLD) said on Monday it expects a ruling on June 2 from the Bamako Commercial Tribunal on the Malian government’s request to place its Loulo-Gounkoto gold mining complex under provisional administration.
The request marks the latest flashpoint in a months-long standoff between the Canadian miner and Malian authorities. Barrick’s subsidiaries formally opposed the move in court, calling it unprecedented and without legal or practical justification.
Barrick, which has operated in Mali for nearly 30 years, called the government’s actions a threat to the viability of its investment and a blow to the country’s mining sector.
The Loulo-Gounkoto complex is one of Mali’s largest gold-producing assets and a major contributor to the West African nation’s economy.
“This attempt to interfere with Loulo-Gounkoto’s operations disregards Barrick’s rights under both Malian law and binding agreements,” the company said in a statement.
The dispute has deepened since the government began detaining several Barrick employees more than five months ago and blocked gold exports from the site. Despite the suspension of operations, Barrick said it has continued to pay wages and provide monthly support to sustain the complex.
A preliminary court hearing on May 15 allowed the company to respond to the government’s petition ahead of the expected June ruling.
Barrick said it remains open to dialogue and has contacted Mali’s Minister of Economy and Finances to resume discussions aimed at securing the release of detained employees and restarting operations. The company has also launched international arbitration proceedings.