Malian Judge to Order Reopening of Barrick’s Loulo-Gounkoto Gold Mine Under New Management

A Malian judge is expected to issue an official order on Thursday to reopen the Loulo-Gounkoto gold mine, one of the largest and most productive gold mining operations in West Africa, according to a report by Reuters. The decision follows a request from Mali’s transitional government and is expected to place the mine under new management.

The Loulo-Gounkoto complex, operated by Barrick Gold Corporation, has been a cornerstone of Mali’s gold production for years, contributing significantly to the country’s economy. However, the mine was temporarily closed amid escalating tensions between the government and the mining company over issues reportedly related to operational control, revenue sharing, and local compliance regulations.

The government of Mali, which has been increasing its oversight of the country’s mining sector, formally requested the reopening of the site with a new management structure that aligns more closely with national interests and development goals. According to sources familiar with the matter, the court’s decision is seen as a compromise to ensure the continuation of mining operations while addressing sovereignty concerns.

Barrick Gold Corporation has yet to release an official statement on the impending ruling. However, the company has historically emphasized its commitment to responsible mining practices and maintaining productive relationships with host nations.

The Loulo-Gounkoto mine complex, located in western Mali near the border with Senegal, has been operational since the early 2000s and is responsible for producing hundreds of thousands of ounces of gold annually. Its reopening under new management could have significant implications for the region’s economy and for foreign investment in Mali’s mining sector.

The expected judicial decision is part of a broader move by the Malian authorities to exert greater influence over strategic resources, a trend that has gained momentum amid rising nationalism and a shift in foreign policy under the current transitional government.

Analysts suggest that while the reopening is likely to be welcomed by local workers and stakeholders reliant on the mine’s output, it may raise concerns among international investors about the stability and predictability of Mali’s investment climate.