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Barrick suspends Mali gold operations as standoff escalates
By William Clowes and Katarina Hoije
Bloomberg News
Tuesday, January 14, 2025
Barrick Gold Corp. said it is suspending mining operations in Mali after the government started removing gold from the nation's biggest mine in the latest escalation of a months-long dispute.
The world's No. 2 gold producer is stopping activity at the vast Loulo-Gounkoto complex, the firm said in a statement today. The move comes about a week after the company warned it would be forced to take such action if the authorities in the West African country continued to restrict exports and disrupt operations.
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Barrick and Mali's military rulers are locked in a standoff over the distribution of revenue from an asset that is key for both the company and the government.
The state has blocked Barrick from shipping the precious metal out of the country since November, started seizing gold stockpiled at the mine, and put out an arrest warrant for Chief Executive Officer Mark Bristow.
The miner has begun arbitration proceedings against Mali. ...
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