Barrick CEO Vows to Defend Rights as Mali Junta Seeks More Money

Barrick CEO Vows to Defend Rights as Mali Junta Seeks More Money

Barrick Mining Corp. boss Mark Bristow says he has shown a willingness to cede ground in a dispute with Mali’s military junta, but won’t be waiving the company’s rights in order to restart a shuttered gold mine in the West African nation.

Barrick spending US$15 million a month to keep Mali mine running, says CEO

Mark Bristow, Barrick’s CEO said the miner is spending US$15 million a month to keep its Mali mine running, and that he does not know where the government is keeping the gold that it confiscated from the company. Speaking in an interview about the long-running conflict with Mali authorities, Bristow said the government walked back …

Mali dispute hangs over Barrick’s first quarter profit

THE shutdown of Loulo-Gounkoto in Mali weighed heavily on Barrick Mining Corp. in the first quarter with the Canadian miner writing down the asset for $484m. Although offset by impairment reversals at the Zambia copper mine Lumwana ($655m) and at Veladero ($437m), a gold mine in Argentina, Barrick lost production from Loulo-Gounkoto, as the group forecast. The mine was suspended in January after the government seized around three tons of gold st…