Barrick’s Mali Gold Mine Restarts after 9-Month Shutdown
Mining News | 2025-10-22 11:35:27
Following this, a court appointed the country’s former health minister to manage the mine for at least a period of six months.
By Paul Ploumis
SEATTLE (Scrap Monster): Operations have resumed at Barrick’s Loulo-Gounkoto gold mine in Mali following a nearly nine-month shutdown under state management. The mine was initially closed in January 2025 after disputes arose between Barrick and the Mali government over tax payments, during which the state administration blocked gold exports, seized gold stocks, and detained senior company officials.
In June 2025, a court-appointed interim administrator, the country’s former health minister, took control of the mine for at least six months to stabilize operations. Production at the complex reportedly restarted late last week after a deal was reached to resume payments to contractors, supporting a broader plan announced by Mali’s Mines Minister to restart operations and bolster the national economy through gold production.
While the restart is a positive development, a mining industry spokesperson emphasized that the Mines Ministry is not directly involved in the mine’s daily operations, which continue to be overseen by the court-appointed administration.
The Loulo-Gounkoto gold mine is a strategically important asset for Barrick, producing 723,000 ounces of gold in 2024, and its reopening is expected to significantly contribute to both Barrick’s global output and Mali’s economic activity. Analysts view the restart as a critical step in stabilizing investor confidence and resuming gold exports from one of West Africa’s largest mining complexes.
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Frequently Asked Questions
- Why was the mine originally shut down?
The mine was closed in January 2025 due to a tax dispute between Barrick and the Mali government, which included blocked gold exports, seized gold stocks, and the detainment of senior company officials.
- Who is currently managing the mine?
A court-appointed interim administrator, formerly Mali’s health minister, is managing the mine, while the Mines Ministry is not directly involved in daily operations.
- What is the mine’s production significance?
Loulo-Gounkoto is one of Barrick’s key assets, having produced 723,000 ounces of gold in 2024, making it a major contributor to the company and Mali’s mining sector.
