Barrick Gold (ABX)

Canada's Barrick Gold said on Monday it would suspend operations in Mali if the country does not lift restrictions on gold shipments within the coming week, as the mining group faces what sources told Reuters amounted to a confiscation order.

Barrick's Mali standoff, threats by Burkina Faso's junta to strip mining permits and the seizure of a French-run uranium site in Niger have unsettled Western miners and could limit further investments in West Africa, industry insiders say.

Military governments in Mali, Burkina Faso and Niger are all trying to renegotiate terms to gain a bigger share of mining revenues after a series of coups that have seen them shift away from their traditional backers France, the United States and the United Nations towards Russia.

Barrick, whose Loulo-Gounkoto mining complex in Mali accounts for around 14% of its 2025 estimated gold output, has been in a dispute with the country's government over a contract based on new mining rules since 2023. And last month, it issued an arrest warrant for Barrick Chief Executive Mark Bristow.

Mali was Africa's second-biggest gold producer in 2023 and 11th in the world, the World Gold Council said. Barrick is the second-largest gold mining company globally.
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