Barrick president and chief executive Mark Bristow emphasised the critical importance of ensuring the long-term viability of the Loulo-Gounkoto gold mining complex to sustain Mali's mining industry and its significant economic contribution
Speaking to local media and stakeholders, Bristow highlighted Barrick's substantial investment in Mali, totaling over US$10bn over 29 years, with its mines annually contributing between 5% and 10% to the country’s GDP. He underscored that Barrick had contributed over US$1bn to Mali's economy in the past year alone.
“We continue to work constructively towards a global resolution of our differences and finding common ground on the key issue of sharing the economic benefits of our operations without damaging the future viability of these valuable contributors to the economy,” remarked Bristow.
“It’s worth noting that Barrick developed a highly successful benefit-sharing partnership for our Tanzanian operations which has since also been used as a model for the reopened Porgera mine in Papua New Guinea.”
Bristow cautioned that the current economic and political climate in Mali had caused exploration companies to curtail or suspend their operations in the country which would impact gold production in the long run.
“In contrast, Barrick has been engaging with the National Directorate of Geology and Mines (DNGM) to grow our exploration footprint here, securing our ability to deliver real value to Mali and our stakeholders in the country,” concluded Bristow.
Barrick's commitment to Mali's mining sector
Over the past 29 years, Barrick has invested more than $10 billion in the Malian economy, with its mines accounting for between 5% and 10% of the country’s gross domestic product annually. (Image source: Barrick)
