Mali expects rise in gold output in 2025 on reopened Barrick operations

Tiemoko Diallo

Wed, Mar 26, 2025, 6:30 AM 2 min read

By Tiemoko Diallo

BAMAKO (Reuters) - Mali is forecasting a flimsy betterment successful concern golden output successful 2025 connected the presumption that mining elephantine Barrick Gold volition resume operations aft a months-long standoff with the government, a papers seen by Reuters connected Wednesday showed.

Production is expected to scope 54.7 metric tons of gold, according to the papers from the West African country's mines ministry, aft plunging 23% to 51.7 tons successful 2024.

A large golden shaper successful Africa, Mali has astir 15 operating golden mines, chiefly owned by planetary companies including Barrick Gold, B2GOLD, Resolute Mining, Endeavour Mining, and Hummingbird Resources.

Barrick suspended operations astatine its Loulo-Gounkoto cognition successful January aft Mali's military-led authorities blocked shipments from the analyzable and past seized 3 tons of gold.

Four of its employees person been detained since November connected charges including wealth laundering and financing of terrorism, allegations the institution denies.

Barrick signed an statement with the authorities successful February to extremity a broader astir two-year taxation dispute. Malian authorities, however, person yet to o.k. the deal.

Spokespeople for Mali's presidency and mines ministry did not instantly respond to Reuters' requests for remark connected whether the forecast indicated the authorities mightiness soon motion the agreement.

In an interrogation with Reuters connected Feb. 12, Barrick main enforcement Mark Bristow said operations would beryllium capable to resume erstwhile the institution could to export its golden again.

The undated ministry papers bases its yearly estimation connected a resumption of Barrick's activities successful March, forecasting output of 1.1 tons for the period - a people apt to beryllium missed arsenic the company's operations stay suspended.

In its yearly study released this month, Barrick said it was present assuming a script successful which accumulation successful Mali could restart connected April 1, adding nevertheless that it was not guaranteed that a definitive statement would beryllium reached by that date, oregon astatine all.

Barrick produced 0.63 tons of golden successful January and nary successful February, the papers showed.

In December, Mali became a lithium shaper with the opening of the Goulamina Lithium mine, owned by China's Ganfeng.

The ministry expects that excavation to nutrient 381,959 tons of lithium spodumene successful 2025, according to the document.

(Additional reporting by Divya Rajagopal successful Toronto; Editing by Portia Crowe and Joe Bavier)