Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Mining News January 30, 2023 06:55:43 PM

Barrick’s Gold Mining Complex- A Major Contributor to Mali's Economy

Paul Ploumis
ScrapMonster Author
Also, the initial development of a third underground mine at Gounkoto is on track to start ore production from stoping in Q2 this year.

Barrick’s Gold Mining Complex- A Major Contributor to Mali's Economy

SEATTLE (Scrap Monster): Barrick’s Loulo-Gounkoto mining complex in Mali continued to deliver value to its shareholders. A key socio-economic partner of the country, the mine complex made $260 million in direct contribution to the country’s economy, in the form of dividends, royalties and taxes. Also, indirect contributions totaled $570 million during the year.

In a news release, Barrick Gold stated that the mine complex met its production guidance for the year and further solidified its long-term outlook. The geological structures within the Luolo district indicates potential for further discoveries, it noted. Also, the initial development of a third underground mine at Gounkoto is on track to start ore production from stoping in Q2 this year.

ALSO READ:

Barrick Gold Marked Formal Launch of Reko Diq Mine Construction

Barrick Gold North Mara Gold Mine Sued Over Alleged Abuses

While speaking to media, Mark Bristow, President and Chief Executive Officer, Barrick Gold said that the strong partnership network has been a major factor in helping Loulo-Gounkoto to maintain an exemplary performance amidst recent challenges faced by the country. The company has been a significant contributor to the development of infrastructure, agriculture, education and healthcare in nearby communities.

The solar power plant at the complex, commissioned in August 2020, has resulted in carbon emissions cut by nearly 57 kt.

×

Quick Search

Advanced Search