JOHANNESBURG (miningweekly.com) – New York- and Toronto-listed Barrick Gold remains restricted from shipping gold from its Loulo-Gounkoto mining complex in Mali, West Africa.

In addition, an interim attachment order has now been issued against the existing gold stock on site, which further prevents its export and disrupts normal operations.

Barrick believes the interim attachment order is unwarranted and is in contravention of the agreed dispute resolution mechanisms.

The inability to ship gold not only affects operations but has broader implications for the local economy, the 8 000 employees and its many local service providers, Barrick president and CEO Dr Mark Bristow stated in a release to Mining Weekly.

If this issue is not resolved within the coming week, Barrick will have no choice but to temporarily suspend operations at Loulo-Gounkoto. Such an action would be deeply regrettable but necessary, as previously reported.
 
“Barrick remains committed to constructive engagement with the government of Mali to resolve the existing disputes amicably,” Bristow stated.  

As previously disclosed, Barrick has initiated arbitration through the International Centre for the Settlement of Investment Disputes as a recognised mechanism to address these matters of disagreement while maintaining the integrity of existing agreements.
 
In parallel, Barrick is continuing its efforts to reach an agreement with the Mali government on a memorandum of agreement to resolve the existing disputes, redefine the partnership’s future and increase the State’s share of benefits from the Loulo-Gounkoto complex.
 
Bristow noted that the situation was further compounded by the continued detention, on unfounded charges, of several of Barrick’s Malian employees and the company was actively working to secure their release and ensure their well-being.  The company reiterated its commitment to the safety and rights of its workforce as a critical priority.
 
“Barrick continues to be a steadfast partner to Mali and its people, contributing significantly to the country’s economic and social development over nearly three decades.

“We’re committed to dialogue and finding a mutually acceptable resolution that allows us to secure the future of Loulo-Gounkoto as a vital economic contributor to Mali,” Bristow emphasised.