Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said on Monday as it struggles to reach agreement with authorities on a new mining code in the West African country.

Barrick Gold Corp. said Mali’s military junta has blocked shipments from the country’s largest gold mine and the company will need to halt operations at the site if they remain suspended.

All amounts expressed in US dollars TORONTO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- (NYSE:GOLD)(TSX:ABX) reports that although it had previously agreed on a framework to achieve a global resolution of the disputes with the Government of Mali over the Loulo-Gounkoto complex,

Suspension of shipments from one of the company’s biggest international gold mines is the latest twist in a worsening conflict between Barrick and the junta that seized power in a 2021 coup

If Mali continues to impede shipments from Loulo-Gounkoto mine, the country's largest gold, Barrick will cease operations.

UNLESS the blockage of gold shipments from Barrick Gold Corporation’s Loulo Gounkoto mine in Mali is lifted, Barrick will be obliged to suspend operations at the mine, CEO Mark Bristow warned on Monday.

Barrick Gold (NYSE:GOLD) warned Monday that it would be forced to suspend operations in Mali if shipments remain blocked, as it has been unable to reach agreement with the government on a new mining code in the country.

Barrick Gold (TSX:ABX) remains embroiled in a dispute with the government of Mali over resource distribution at the company’s Loulo-Gounkoto gold complex ・The government has suspended gold shipments from the complex,