Barrick Gold Corp. has successfully regained control of its Loulo-Gounkoto gold mine complex in Mali after a protracted security disruption, recovering approximately three tons of gold previously seized during unrest. The recovery marks a significant step in restoring operations at one of West Africa’s largest gold-producing assets.
- Barrick Gold Corp. regained control of the Loulo-Gounkoto gold mine complex in Mali
- Approximately 3,000 kilograms (3 tons) of gold were recovered following a security incident
- The mine was suspended in early 2024 due to armed conflict and regional instability
- Barrick plans to resume full production by Q1 2026 with a $40 million infrastructure investment
- Loulo-Gounkoto historically produced over 700,000 ounces of gold annually
- Gold recovery valued at an estimated $180 million at current market prices
Barrick Gold Corp. has reestablished operational control at its Loulo-Gounkoto gold mine complex in Mali, following a period of armed conflict that disrupted production and led to the theft of roughly 3,000 kilograms of gold. The mine, located in the northeastern region of Loulo, had been suspended since early 2024 amid escalating violence linked to regional instability and armed insurgent activity. The recovery of the gold—valued at an estimated $180 million at current market prices—was confirmed through internal audits and on-site verification by company security teams. The Loulo-Gounkoto complex, which includes two major mining zones, historically produced over 700,000 ounces of gold annually prior to the disruption. With the return of operational stability, Barrick plans to resume full-scale production by the first quarter of 2026, targeting output levels consistent with pre-2024 performance. The company has also announced a $40 million investment to upgrade security infrastructure and recondition key processing facilities. The resumption of activity at the mine is expected to bolster Mali’s gold export revenues, which declined by 22% in 2024 due to mine closures and security-related disruptions. International investors are viewing the recovery as a signal of resilience in Africa’s mining sector, despite ongoing geopolitical risks. Market analysts note that Barrick’s ability to reclaim both assets and output could influence other multinational operators considering divestment from high-risk mining regions.