Mali grants ten-year renewal for Barrick’s Loulo project permit

The Government of Mali has extended the golden mining licence for Barrick Mining’s Loulo task by 10 years, arsenic announced by the West African nation's subject leader, reported Reuters.

The determination comes aft the solution of a long-standing quality betwixt Mali and Barrick concerning profit-sharing and power of the Loulo-Gounkoto golden mining complex.

This disagreement was triggered by Mali's 2023 mining code, which introduced higher taxes and accrued the state’s stock successful mining projects.

Barrick has agreed to retreat its arbitration lawsuit filed with the World Bank's quality tribunal, nether the statement terms.

Concurrently, Mali has pledged to driblet each ineligible charges against the Canadian mining institution and its subsidiaries, merchandise detained employees and reconstruct afloat operational power of the analyzable to Barrick.

As portion of the licence renewal, Barrick concluded a caller feasibility survey indicating economically viable reserves that enactment six years of open-pit mining and 16 years of underground operations.

Projected yearly golden accumulation is estimated astatine 420,920oz.

The Loulo-Gounkoto complex, located successful occidental Mali, generated astir $900m (C$1.23bn) successful gross successful 2024, making it Mali's largest golden shaper and a important contributor to Barrick's fiscal performance.

In November 2025, Barrick completed the merchantability of the Hemlo Gold Mine successful Canada to Carcetti Capital, which renamed the plus Hemlo Mining Corporation (HMC).

The transaction, valued astatine up to $1.09bn, included $875m successful currency and $50m successful HMC shares payable astatine closing, positive up to $165m successful further payments tied to accumulation levels and golden prices, starting successful January 2027 and dispersed implicit 5 years.

The deal’s completion follows an statement reached successful September 2025.

"Mali grants ten-year renewal for Barrick’s Loulo task permit" was primitively created and published by Mining Technology, a GlobalData owned brand.

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