Barrick Mining's 2% Gain on 163rd-Ranked 690M Volume Masks Mali Crisis and 1.1B Write-Down

On September 18, 2025, , ranking 163rd in market activity. Legal uncertainties in Mali intensified as prosecutors appealed a judge’s order to release four detained employees, extending operational disruptions at the Loulo-Gounkoto gold complex. The Malian government’s 2023 mining code reforms, which increased royalties and equity stakes, triggered a standoff with Barrick after the company resisted revised profit-sharing terms. In response, authorities blocked gold exports, seized bullion, and placed the mine under state control via a provisional administrator in June 2025.

, . , creating a significant production gap. The crisis worsened when , a key negotiator, joined Mali’s presidential advisory team, signaling a strategic shift. Barrick’s arbitration efforts under ICSID continue, but the dispute remains unresolved, with no immediate resolution in sight.

Despite these challenges, Barrick has maintained its production growth trajectory in other regions, including its Kibali mine in the DRC and Lumwana expansion in Zambia. However, the ongoing Mali conflict underscores the company’s vulnerability to geopolitical risks, particularly in jurisdictions with volatile regulatory environments. Investors are closely monitoring legal developments and potential arbitration outcomes, which could further impact asset valuations and operational timelines.

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