Barrick and Mali Reach Agreement to Settle Disputes

Rhea-AI Summary

Barrick Gold (NYSE:GOLD)(TSX:ABX) and the Mali government have reached an agreement to resolve existing claims and disputes related to Barrick's Loulo and Gounkoto gold mining companies. The settlement details, based on Barrick's original proposals, will be disclosed once finalized. Mark Bristow, Barrick's president and CEO, highlighted the company's 30-year relationship with Mali, emphasizing that past differences were always amicably resolved.

Bristow acknowledged the challenging negotiations but expressed encouragement over the government's recognition of Loulo-Gounkoto complex's importance to Mali's economy. He looks forward to normalizing the long-standing partnership and working with the government moving forward.

Positive

• Agreement reached to resolve existing claims and disputes with Mali government
• Settlement based on Barrick's original proposals
• Government recognizes importance of Loulo-Gounkoto complex to Mali's economy
• Potential for long-term viability of mining operations in Mali

Negative

• Negotiations described as challenging
• Details of the agreement not yet finalized or disclosed

BAMAKO, Mali, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick’s Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick’s original proposals, will be made public once the terms of the settlement have been finalized.

Barrick president and chief executive Mark Bristow said the company’s mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved.

“The current negotiations have proved challenging but we’re encouraged by the government’s recognition of the importance of securing the long-term viability of the Loulo-Gounkoto complex as a substantial contributor to the Malian economy. We look forward to working with the government to normalize our long-standing partnership.” Bristow said.

Barrick enquiries

Investor and media relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

FAQ

What agreement did Barrick Gold (NYSE:GOLD) reach with the Mali government?

Barrick Gold and the Mali government agreed to find a global resolution to existing claims and disputes related to Barrick's Loulo and Gounkoto gold mining companies.

When will the details of Barrick Gold's (NYSE:GOLD) agreement with Mali be made public?

The details of the agreement will be made public once the terms of the settlement have been finalized.

How long has Barrick Gold (NYSE:GOLD) been operating in Mali?

According to the press release, Barrick Gold has had a mutually beneficial relationship with Malian governments for 30 years.

What did Mark Bristow say about the negotiations between Barrick Gold (NYSE:GOLD) and Mali?

Mark Bristow, Barrick's president and CEO, described the negotiations as challenging but expressed encouragement over the government's recognition of the Loulo-Gounkoto complex's importance to Mali's economy.