Barrick Gold Says Mali Mines Unaffected by ECOWAS Sanctions

SEATTLE (Scrap Monster): Barrick Gold announced that its mines in Mali have not been so far impacted by the recent sanctions imposed by the Economic Community of West African States (ECOWAS) on the West African country.

According to Barrick Gold, its mines currently have sufficient stocks and stores to ensure smooth and normal operations. However, the company noted that the situation is extremely fluid and that it is closely monitoring it. Incidentally, Barrick owns Mali’s biggest gold mining complex.

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Meantime, Hummingbird Resources announced that it is currently evaluating the risks to its supply chain due to the sanctions. The company is taking all possible measures to minimize the potential impact. Furthermore, it stated that it is too early to predict the potential impacts of the sanctions on its business.

The group of 15 countries had decided to impose tough economic sanctions on Mali, close their land and air borders with it, freeze Malian state assets in ECOWAS commercial banks and sever diplomatic ties, following the delay in holding elections as per prior agreement. The military leadership in Mali had recently proposed holding elections in the country in December 2025, instead of February 2022, as originally agreed.