MALI’S court-appointed administrator plans to sell one ton of gold from Barrick Mining’s Loulo-Gounkoto complex as operations resume after nearly six months of suspension, said Reuters citing sources.The Canadian mining giant halted activities in January following government seizure of gold stocks from the facility. Former health minister Soumana Makadji, installed as temporary administrator last month, has enlisted state mining company chairman Samba Toure to assist with operational restart, the newswire said in a report on Tuesday.Production commenced on Monday for the first time since the January shutdown. The complex previously contributed 15% of output for Barrick, the world’s third-largest gold producer, before the suspension impacted national production levels.Barrick CEO Mark Bristow challenged the legitimacy of the restart, telling Reuters the company had received only informal notification about resumed operations and planned gold sales. He emphasised that any administrator-led activities would be considered illegitimate without company cooperation.The dispute stems from a two-year standoff between Barrick and Mali’s military government over alleged tax disagreements and the company’s resistance to adopting new mining regulations designed to increase state revenue from rising gold prices.Proceeds from the planned gold sale, valued at approximately $107m, will fund operational expenses including worker salaries, fuel costs, and outstanding contractor payments. The gold has remained in storage since operations ceased and is separate from three tons seized in January.The restart without Barrick’s involvement could establish a precedent for state intervention across West Africa’s mining sector, where military governments in Mali, Niger, and Burkina Faso seek greater revenue shares from soaring commodity prices.Gold prices have surged 25% this year, reaching $3,500 per ounce in April, according to Reuters data. However, significant operational challenges remain, with sources suggesting normal production levels could take four months to achieve under the new management structure.Barrick has launched international arbitration proceedings and restricted access to company systems in Mali, leaving many employees unpaid since June, Reuters reported.The post Mali restarts gold operations without Barrick consent appeared first on Miningmx.
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