Barrick Gold Seeks Fair Resolution of Mali Dispute Through Arbitration

SEATTLE (Scrap Monster): According to the terms of the relevant Mining Conventions, Barrick Gold Corporation announced that its entities in Mali have filed a request with the International Centre for the Settlement of Investment Disputes (ICSID) to resolve the ongoing conflict with the Malian government regarding the company's operations in Loulo-Gounkoto complex.

The company, on Monday, had threatened to suspend its operations in the African nation if gold exports continued to remain blocked.

According to a business news release, the most recent action demonstrates the organization's dedication to following established procedures for fairly and openly addressing conflicts. It pointed out that the arbitration process has already shown itself to be a useful instrument for strengthening alliances and reaching amicable agreements.

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Over the course of almost three decades of operations in Mali, Barrick Gold has shown its long-term commitment to the nation and its citizens, according to Mark Bristow, President and CEO. According to him, it is still open to having further discussions with the national government in order to find a peaceful solution to the problems, which will ultimately contribute to the Loulo-Gounkoto complex's long-term prosperity.