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Mining News July 04, 2022 02:50:50 PM

Barrick Mali Gold Complex Set to Meet Output Guidance

Paul Ploumis
ScrapMonster Author
The Loulo-Gounkoto complex is comprised of open pits at Gounkoto, Faraba and is situated in western Mali, bordering Senegal.

Barrick Mali Gold Complex Set to Meet Output Guidance

SEATTLE (Scrap Monster): Barrick Gold Corporation announced that its massive Loulo-Gounkoto gold complex in Mali is on track to meet its production guidance of 510,000 – 560,000 ounces for the current year. Also, the complex is all set to replace annual reserve depletion to further extend its mine life.

Speaking to media, Mark Bristow, President and Chief Executive Officer, Barrick Gold said that the company remains committed to invest in projects in the country, thereby creating value for all stakeholders and supporting the communities in the region. The commissioning of the Gounkoto underground mine and the Gara West open pit is in progress. The ongoing extension of the solar plant and strengthening of local partnerships demonstrate its long-term commitment to the country, he added.

During the initial half of 2022, the company has contributed $337 million to the Malian economy in the form of taxes, royalties, dividends, salaries and payments to local suppliers. The lifetime contribution of Barrick over the past 25 years is estimated to have surpassed $8.5 billion. It continued its investments in sustainable economic community projects during the most recent quarter too.

The Loulo-Gounkoto complex is comprised of open pits at Gounkoto, Faraba and is situated in western Mali, bordering Senegal.

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