Barrick Gold Secures a Decade-Long Mali License as Dispute Is Resolved

Barrick Gold has clinched a ten-year extension for the Loulo mine?s license, effectively stabilizing the Loulo-Gounkoto complex?s operations through at least 2036 after a two-year clash with Mali?s ruling authorities. The military leadership in Bamako confirmed the renewal on Friday via decree, resolving a row that began in 2023 with the introduction of a new mining law imposing higher taxes and greater state participation in mining ventures.

Rift ends and litigation halted
Both sides agreed to drop all ongoing legal actions. Barrick will withdraw its arbitration claim at the World Bank tribunal, while Mali has dismissed charges against the Canadian company and its subsidiaries, released held personnel, and handed back full operational control of the mine. The show of unity clears the path for uninterrupted production and long-term planning.

Feasibility study supports the extension
The license renewal rests on a fresh Barrick feasibility study, which identifies economically recoverable reserves sufficient to support six years of open-pit mining and sixteen years of underground development. This underpins a long-term operation plan for the Loulo-Gounkoto complex.

2026 production outlook and guidance update
The Loulo-Gounkoto complex remains a cornerstone asset within Barrick?s portfolio. The latest study projects an annual gross gold production of approximately 421,000 ounces. Earlier in February, Barrick had already reintroduced the mine into its 2026 production outlook, targeting an attributable output range of 260,000 to 290,000 ounces for the current year. This followed an initial agreement reached in November 2025, which the formal license renewal now codifies.

Investor clarity and planning implications
The resolution brings much-needed clarity for investors. During the dispute, Barrick had excluded Mali-based assets from its forecasts. With the renewal and the secured operating life through at least 2036, Barrick has re-incorporated the Loulo-Gounkoto complex into its guidance, restoring confidence in long-term planning and execution.