“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,” he said in a statement.

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The Loulo-Gounkoto complex, a major asset in Barrick’s operations, produced 683,000 ounces of gold in 2023 and holds proven and probable reserves estimated at 6.7 million ounces. Additionally, its measured and indicated gold resources total 9.1 million ounces. These numbers show the mine’s importance to both Barrick and the Malian economy, contributing nearly $10 billion over the past 29 years.

The new mining code aims to provide a more stable framework for mining investment, but it also introduces uncertainties for companies operating under previous agreements. Bristow’s visits to Mali point to a proactive approach as the miner ensures the continuity and growth of its operations.

On a positive note, the company has a track record of success in tough jurisdictions, as Bristow pointed out in a statement.

"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,” he added.

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