By Robb M. Stewart

Barrick Mining has resumed talks with Mali's military government as it works for the release of four employees jailed for the past 11 months as part of a tense dispute over its gold operations on the West African country.

"We are in discussions again," interim Chief Executive Mark Hill said. "We may have to change some things but our staff are the priority."

Hill declined to discuss details of the negotiations, but said he doesn't favor the arbitration efforts pushed by former CEO Mark Bristow, which he said he doesn't believe would see a timely release of Barrick's workers.

After the staff are freed, Barrick can consider restarting mining operations with the management team that is still on the ground in Mali.

Barrick suspended its Mali operations in January after the four staff members were arrested, and the government seized stocks of gold and continued to block shipments from the Loulo-Gounkoto mining complex. In June, the government placed Barrick's Malian operations under temporary provisional administration. Hill said the company hasn't had access to the mining operations since the provisional administrator took over.

The military junta, which took power in 2021, has sought a greater share of the revenue generated from gold production in the country. The state holds a 20% stake in the Barrick-controlled companies that own the Loulo and Gounkoto gold mines.

Hill was named chief operating officer and took over as interim CEO when Barrick in late-September parted ways with Bristow, who had led the Toronto based company for almost seven years.

Barrick said it has continued to seek a resolution of the dispute in Mali. It had been looking to a tribunal set up to hear the case brought to the International Centre for Settlement of Investment Disputes, after it in June requested provisional measures to prevent any escalation of the dispute and to safeguard its rights under binding mining conventions with Mali.

Loulo-Gounkoto accounted for 578,00 troy ounces of the 3.91 million ounces of gold attributable to Barrick in 2025. The company is targeting gold output of between 3.15 million and 3.5 million ounces this year, with nothing from Mali.

In the second quarter, Barrick recorded a $1.04 billion hit for the loss of control of its Mali operations. It recognized $250 million in income for the just-ended quarter due to the rise in the price of gold.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

November 10, 2025 12:30 ET (17:30 GMT)

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