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Mali to control Loulo-Gounkoto gold mine for six months

Bloomberg · 17 days ago
Bloomberg
Bloomberg
17 days ago

Barrick Mining Corp.'s Loulo-Gounkoto gold mining complex should be placed under provisional administration for six months, handing control of one of the company's biggest operations to state-appointed management, a Malian court ruled.

BreakdownGenerated by LeadStory AI
  • A Malian court ruled that Barrick's Loulo-Gounkoto gold mine will be under provisional administration for six months.
  • Control of the mine will be transferred to state-appointed management as part of an ongoing dispute. 9s
  • Mali has previously blocked gold exports, arrested employees, and seized gold from Barrick's operations. 51s
  • Barrick is contesting the decision and pursuing international arbitration. 1m 14s
  • The Loulo-Gounkoto mine is a major asset for Barrick, and the company remains open to negotiating with the Malian government. 1m 54s
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