Market Chatter: Barrick Mine Administrators to Resume Blasting at Mali Underground Mine

MT Newswires Live
Oct 10

Barrick Mining's (B) court-appointed provisional administrators for its Loulo gold mine in Mali have resolved the unpaid bills of subcontractors Sandvik and Maxam, allowing the resumption of blasting activities, Reuters reported Friday, citing two sources familiar with the matter.

Blasting is scheduled to restart at the underground mine on Oct. 15, while operations at the open pit mine remain suspended as the main subcontractor has not been paid, the report said.

Barrick paused operations at the mine in January. Talks continue between Barrick and Mali's military-led government in a bid to resolve a dispute over a new mining code, while the World Bank's arbitration court is expected to rule on the provisional administration's legitimacy this month, Reuters reported.

Barrick, Sandvik, Maxam, World Bank's arbitration court, and the Malian government did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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