Barrick Mining (B.US) resumes production of important gold mine in Mali, ending over nine months of suspension.

According to reports, after government officials took over the management of the mine in June this year, Barrick Gold (B.US) finally ended its nine-month shutdown at the Loulo-Gounkoto gold mine in Mali and resumed production last week. The restart of production stemmed from an agreement reached to resume payments to contractors - payments had been on hold since Barrick closed the mine complex in January this year. As one of Barrick Gold's most important assets, the Loulo-Gounkoto gold mine contributed 723,000 ounces of gold production in 2024, but due to the government takeover, Barrick was unable to fully benefit from the historic rise in gold prices this year. Disputes between Barrick and the Malian government date back to 2023, mainly involving disputes over tax payments and new mining law issues. While other companies in the industry such as AngloGold Ashanti and B2Gold have resolved similar disputes through negotiations with the government, Barrick's issues only recently made progress. It is worth noting that on Tuesday, Barrick's stock price fell by 9.3% as the precious metals sector trended lower, with gold futures experiencing the largest single-day drop in US dollars in history.