The Malian judiciary has ordered the return of three tonnes of gold to the Canadian firm Barrick Mining, effectively ending a high-stakes dispute that had frozen relations between the state and its leading gold producer for nearly a year.
The gold, valued at approximately $400 million, was seized in January 2025 from the Loulo-Gounkoto mining complex in western Mali. The seizure occurred amid a period of intense friction over the application of Mali’s new mining code and significant financial disagreements.
The restitution follows a comprehensive settlement reached in late November 2024 between the Malian government and Barrick. According to judicial and industry sources, the agreement includes: Settlement of Obligations: Barrick has fulfilled outstanding financial obligations to the Malian Treasury. Legal Amnesty: The lifting of legal proceedings against the group’s executives. Arbitration Halt: The abandonment of international arbitration proceedings previously initiated by the company.
The dispute was a major test of Mali’s revised Mining Code, which seeks to increase the state’s share of extractive revenues and strengthen national sovereignty over natural resources. Gold is the backbone of the Malian economy, accounting for more than 70% of total exports.
Barrick Mining, which had suspended some operations following the seizure, maintains a long-standing partnership with the state. Observers view the return of the gold as a vital sign of appeasement toward foreign investors, signaling that while Mali is tightening its regulatory framework, it remains open to resolving disputes through negotiation.
The resolution is expected to: Normalize Operations: Restore full productivity at the Loulo-Gounkoto complex. Boost Public Finance: Inject settled funds into the Malian Treasury. Restore Investor Confidence: Stabilize the investment climate for other international mining firms operating in the region.
MD/Sf/fss/abj/APA