Barrick ends Mali gov't disputes, drops arbitration

Executive Summary

• Barrick Mining Corp. has reached a settlement agreement with the government of the Republic of Mali, resolving all outstanding disputes regarding its Loulo and Gounkoto mines.
• The agreement mandates the immediate termination of the provisional administration of the Loulo-Gounkoto complex, with operational control being handed back to Barrick.
• All legal charges against Barrick, its affiliates, and employees are being dropped, and legal steps are initiated for the release of four detained Barrick employees.

Key Details

• Settlement Scope: The agreement ends all disputes between Barrick and the Malian government concerning the Loulo and Gounkoto mines.
• Operational Control: The provisional administration of the Loulo-Gounkoto complex is terminated, and operational control is returned to Barrick.
• Legal Resolution: All charges brought against Barrick, its affiliates, and employees will be dropped.
• Employee Release: Legal steps are being undertaken to secure the release of four detained Barrick employees.
• Arbitration Withdrawal: Barrick’s subsidiaries will withdraw arbitration claims currently pending before the International Centre for Settlement of Investment Disputes (ICSID).

Notable Quotes

• "This will pave the way for a constructive path forward."