Barrick May Close Mali Mine Over Dispute With Government

Bloomberg12-17

(Bloomberg) -- Barrick Gold Corp. said Mali’s military junta has blocked shipments from the country’s largest gold mine and the company will need to halt operations at the site if they remain ...

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The junta has detained several company employees and earlier this month it put out an arrest warrant for Chief Executive Officer Mark Bristow.“Local operating conditions have deteriorated significantly with employees imprisoned without cause and gold shipments blocked,” Barrick said in a statement Monday. “If shipments remain suspended, Barrick will be compelled to suspend operations, further impacting the viability of this critical economic driver for Mali.”","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","GOLD":"巴里克黄金","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","LU0345780521.USD":"NINETY ONE GSF GLOBAL GOLD \"A\" (USD) INC","SG9999001143.SGD":"United Gold and General A Acc SGD","LU0498741114.HKD":"FRANKLIN GOLD & PRECIOUS METALS \"A\" (HKD) ACC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","LU0630314457.HKD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (HKD) ACC","BK4570":"地缘局势概念股","BK4532":"文艺复兴科技持仓","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","LU0788108826.HKD":"BGF WORLD GOLD \"A2\" (HKDHGD) ACC","BK4585":"ETF&股票定投概念","LU0724618789.USD":"BGF WORLD GOLD \"A4\" (USD) INC","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","LU0345781412.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) INC","LU0055631609.USD":"贝莱德世界黄金基金A2","LU1223082196.USD":"施罗德环球黄金A Acc","LU0075056555.USD":"贝莱德世界矿业基金A2","BK4017":"黄金","LU0345780950.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) ACC","LU0345780281.USD":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","LU0368265764.SGD":"Blackrock World Gold Fund A2 SGD-H","BK4588":"碎股","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）"},"translate_title":"巴里克可能因与政府纠纷关闭马里矿山","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOLD":0.9},"content_text":"(Bloomberg) -- Barrick Gold Corp. said Mali’s military junta has blocked shipments from the country’s largest gold mine and the company will need to halt operations at the site if they remain suspended.\nShares of the Canadian gold producer fell as much as 2.6% to $16.34 as of 12 p.m. in New York.\nFor months Barrick has been locked in a dispute with the government over how to divide the economic benefits from the Loulo-Gounkoto complex which produced almost 700,000 ounces of gold last year. The junta has detained several company employees and earlier this month it put out an arrest warrant for Chief Executive Officer Mark Bristow.\n“Local operating conditions have deteriorated significantly with employees imprisoned without cause and gold shipments blocked,” Barrick said in a statement Monday. “If shipments remain suspended, Barrick will be compelled to suspend operations, further impacting the viability of this critical economic driver for Mali.”\nRecent developments at the site will further erode investor confidence in Mali’s mining sector and will deter future investment, Bristow said in the statement. The company remains open to constructive engagement with the government to resolve the dispute, he said.\n“A December shutdown at this major mine could also put 2024 gold production guidance at risk,” National Bank of Canada analyst Mike Parkin said in a note. Parkin now estimates Barrick will produce 3.9 million ounces across its portfolio this year, the bottom end of the company’s guidance range of 3.9 million to 4.3 million ounces.\n--With assistance from Katarina Höije.\n(Updates shares and analyst note in last paragraph.)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492606151"}