By Robb M. Stewart

Barrick Mining is fighting to retain control of its gold operations in Mali after the West African country's military junta moved to place the mining complex under administration.

The Canadian miner said Monday that it expects a ruling on June 2 by the president of the Bamako Commercial Tribunal following the company's submissions late last week opposing the Malian government's request to place the Loulo and Gounkoto mines under provisional administration.

The government on May 8 formally submitted its request to the court seeking to impose provisional administration over the site. In a preliminary hearing on May 15, the mining operations were granted the opportunity to formally respond.

Barrick said it believes there is no basis in law or in practice for the day-to-day operations at Loulo-Gounkoto to be handed over to a court-appointed interim administrator.

The escalation is the latest in a long-running dispute between Barrick and Mali's government. Several Barrick employees have been detained for more than five months, the government has frozen gold exports and seized stockpiles of the precious metal, and the Toronto-based company's office in the capital Bamako has been closed by authorities.

Barrick suspended its operations in the West African country in January but said it has continued to pay wages and support the operations on a continuing monthly basis.

"The attempt to interfere with Loulo-Gounkoto's operations is without precedent or lawful justification," the company said. "It disregards Barrick's rights under both Malian law and binding agreements, and it is inconsistent with the principles of due process and mutual respect that should underpin partnerships between governments and long-term investors."

The miner said last week that it wrote to Mali's minister of economy and finances to reiterate its availability to resume discussions on the terms of an agreement that would allow for the release of its detained employees and the resumption of activities.

Barrick's local operations in April received a notice from Mali's government warning that a judicial administrator could be appointed unless operations resumed. The company in reply said it would only restart operations when restrictions imposed by the government on exporting gold were lifted.

Mali already owns a 20% interest in Loulo-Gounkoto. The government, which took power in a 2021, has sought to take a greater share of the revenue generated by the country's gold-mining industry.

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

(END) Dow Jones Newswires

May 26, 2025 07:43 ET (11:43 GMT)

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