Ultimatum from Barrick Gold in Mali: suspension of operations at Loulo-Gounkoto in sight

Tensions are escalating between the Malian government and Canadian mining operator Barrick Gold, as the latter threatens to suspend operations at the Loulo-Gounkoto complex, one of the world's largest gold mining sites. This crisis comes at a time when mining agreements are being renegotiated, marking Bamako's desire to strengthen its control over the country's natural resources.

On 6 January, Barrick Gold announced that the Malian authorities had issued an "ordonnance de saisie conservatoire" on gold stocks from the Loulo-Gounkoto mine in southern Mali. Although the company did not specify the volume seized, this decision is blocking the shipment of mined gold, disrupting operational activities.

In a press release, the company denounced this measure, saying that it was seriously affecting "the 8,000 employees, local suppliers and the entire regional economy". Barrick Gold has set a deadline of a few days to resolve the situation, failing which it is threatening to temporarily suspend its operations.

The Malian government, under the leadership of the military junta, is pursuing a policy of reappropriating natural resources, with the aim of maximising benefits for the state. This initiative includes a redefinition of partnerships with the multinationals operating the gold mines, a key sector accounting for almost 15% of Mali's GDP.

Barrick Gold has indicated that it is prepared to "increase the State's share of profits" and wishes to resolve disputes amicably, while initiating an international arbitration procedure. However, the seizure of the gold stocks illustrates Bamako's determination to impose its vision, even if it means causing tensions with its foreign partners.

The case also comes amid a climate of mistrust marked by accusations of money laundering. In December, the Malian government issued arrest warrants for Barrick Gold CEO Mark Bristow and Loulo-Gounkoto mine General Manager Cheikh Abass Coulibaly. These accusations, although denied by Barrick Gold, add a complex legal dimension to an already tense situation.

The Loulo-Gounkoto mining complex is a strategic infrastructure for Mali, accounting for a significant proportion of its gold exports. A suspension of operations could have a major impact not only on the local economy, but also on international gold markets.

The tug-of-war between Bamako and Barrick Gold illustrates the growing challenges facing international mining companies as they renegotiate the balance of power with African governments.

The resolution of this conflict will determine the future of relations between Mali and its foreign partners in the mining sector, and could serve as a precedent for other African countries seeking to strengthen their economic sovereignty.