By: Business insider Africa

Barrick Gold has initiated a gradual restart of production at its Loulo-Gounkoto gold complex in Mali, one of Africa's largest gold mines. The resumption follows a high-stakes, year-long dispute with Mali's military government over a revised mining code that expanded the state's share of revenues. The process began with mandatory safety and operational training for employees.

The settlement, reached last month, involved Barrick agreeing to pay approximately $430 million to resolve outstanding claims and withdraw international arbitration cases. In return, the Malian government dropped charges, released four detained Barrick employees, and ended the provisional administration of the mine. A key turning point was a judge's order to return three metric tonnes of gold (worth about $400 million) that authorities had seized from a bank vault in Bamako nearly a year earlier.

Gold is central to Mali's economy, accounting for over 70% of its exports, making the Loulo-Gounkoto complex, which produced around 723,000 ounces in 2024, a critically important asset. The dispute and its resolution have been closely watched as a significant example of rising resource nationalism in Africa. For Barrick, settling the conflict removes a major source of operational risk as the company signals a sharper strategic focus on its North American assets.