Blasting operations at Barrick Mining’s Loulo underground gold mine in Mali are set to recommence on 15 October, following a four-month suspension under a court-appointed provisional administration.
The administration, led by former Malian Health Minister Soumana Makadji, was appointed in June by a Bamako court amid a dispute between Barrick and Mali’s military-led government over a revised mining code.
The new legislation seeks higher taxes and expanded state ownership in major gold projects, including the Loulo-Gounkoto complex, in which Barrick holds an 80 per cent stake.
Since assuming control, the provisional authority restricted activities to transporting and processing existing ore stocks, yielding around 1.07 tonnes of gold.
Plans to restart mining in September were delayed as payment negotiations with subcontractors dragged on, with some contractors, including Sandvik and Maxam, remaining unpaid since operations stopped in January.
The restart will see blasting operations resume underground to access fresh gold deposits, though open-pit mining will remain suspended until payments are settled with the main subcontractor.
The shutdown has weighed heavily on Mali’s industrial gold output, which fell 32 per cent year-on-year to 26.2 tonnes by the end of August, according to mines ministry data.
The government last month approved seven new mining agreements under its revised code, part of an effort to boost state revenues from the sector.
Negotiations between Barrick and Malian officials have continued throughout the year, with the latest talks held in August.
The dispute is also the subject of international arbitration before the World Bank’s arbitration court, with a decision expected later this month.
