Leadership overhaul follows as gold producer regains control of West African operations
Barrick Mining's sudden leadership change in September signalled the depths of its Mali crisis.
According to Reuters, the board removed Mark Bristow as CEO over his handling of the company's flagship Loulo-Gounkoto gold complex after a dispute with Mali's military government nearly crippled the operation.
The Canadian miner has now resolved the conflict, BNN Bloomberg reports.
On November 24, Barrick reached an agreement with Mali to end the near two-year dispute.
Mali will drop all charges against the company and its affiliates, return operational control of the mining complex, and release four detained employees.
In exchange, Barrick will withdraw its arbitration case against Mali at the International Centre for Settlement of Investment Disputes.
The dispute centred on Mali's 2023 mining code overhaul that increased state and local interest in projects by 35 percent.
As per Reuters, Mali's government sought approximately US$512m in unpaid dues from Barrick, claiming the company breached new tax obligations and mining contracts with past administrations.
The standoff inflicted significant operational and financial damage.
Mali seized 3 metric tonnes of gold in January 2025, forcing Barrick to suspend operations.
According to Barrick's then-CEO Mark Bristow, the company spent US$15m monthly just to maintain the suspended mine.
A Mali court placed the complex under provisional administration in June, blocking Barrick from operating its own asset for months.
The agreement clears the way for Barrick to resume full control and resume operations at the mine—a critical move to stabilize cash flow and asset value for investors.
