TIMELINE: Barrick’s dispute with Mali’s junta

[Redator]

• 2021
  A military junta led by Général d’Armée Assimi Goïta seized power in Mali.
• August 2022
  Mali’s Minister of Economy and Finance ordered an audit of the mining sector. The audit, conducted by Inventus Mining, run by former Barrick staff, and Mazars Senegal, took place through 2022 and 2023.
• March 2023
  Preliminary audit findings aired on national TV criticized the mining sector but omitted industry responses. Observers claimed the report was biased and flawed.
• August 2023
  Mali adopted a new mining code without consulting the industry, despite repeated calls for inclusive dialogue.
• October 2023
  The government launched a review of existing mining contracts, led by the same audit group—raising conflict-of-interest concerns. The 2023 code didn’t legally apply to pre-existing contracts, including Barrick’s.
  Barrick offered to transition to the new framework, if exemptions could preserve project viability. It submitted several proposals, but the Renegotiation Committee refused to engage with data-driven terms.
• Late 2023–2024
  Barrick made successive concessions during MoA talks, while Mali increased demands. In parallel, authorities launched unfounded investigations and detained local Barrick staff.
• October 2024
  Barrick paid $83 million in good faith and outlined a path to resolve disputes. Authorities released the detained employees.
• November 2024
  Four more employees were arrested on unproven charges and remain in detention. Authorities also issued an arrest warrant for Barrick’s CEO.
• Since November 14, 2024
  Mali has blocked gold export authorizations, halting Barrick’s exports.
• December 2024
  Barrick initiated ICSID arbitration over violations of its legal rights.
  

Barrick hit again as Mali helicopters take off with $117M in gold

• 2025
• January
  Authorities seized over three tonnes of gold, forcing Barrick to suspend Loulo-Gounkoto operations.
  Negotiations briefly resumed later in the month, but the Renegotiation Committee backtracked. It then submitted a Memorandum of Agreement (MoA).
• February 17
  To secure its employees’ release, Barrick signed the MoA. The government never countersigned and escalated tensions by asking a local court to place the mine under provisional administration.
• May 29
  The company asks the arbitration tribunal of the World Bank to intervene in the legal proceedings.
• June 16
  The Bamako Tribunal of Commerce appointed Soumana Makadji as provisional administrator. He has indicated plans to resume gold exports and restart operations.
• July
  Arbitration proceedings advanced. A hearing on provisional measures is scheduled for late July. On July 7, local lawyers finally got an appeal heard regarding the employees’ detention—months late. A ruling is expected July 22.
• Government helicopters landed unannounced at Loulo-Gounkoto on July 10, seizing over a tonne of gold, likely for sale by the provisional administrator. The situation remains fluid.
• A Malian judge rejected on July 22 Barrick’s appeal to release the four employees arrested in November, calling the motion “unfounded.” The company has said the arrests are baseless and part of the broader dispute over taxes and operations ownership.
  
  ** Data sources: Barrick Mining and MINING.COM archives.