BARRICK Gold Corporation has condemned the reported issuance of an arrest warrant for its CEO, Mark Bristow, by the Malian government. The company described the move as part of a troubling pattern of unjustified actions aimed at pressuring the mining giant amid ongoing disputes over the Loulo-Gounkoto gold mining complex.
The arrest warrant follows months of deteriorating relations between Barrick and Mali over the application of the 2023 Mining Code and the government’s demand for increased economic benefits from Loulo-Gounkoto. Barrick insists it has engaged in good-faith negotiations and offered substantial concessions, but these have been rejected.
‘Misuse of justice system’
In a strongly worded statement on Monday, Barrick criticised the Malian government’s approach, alleging that the arrest warrant and other actions—such as the imprisonment of local management and the blocking of gold shipments—are part of a broader misuse of the justice system.
‘This development further erodes investor confidence in Mali’s mining sector,’ the statement said. ‘Such actions will deter future investment and undermine a critical economic driver for the country.’
Barrick also highlighted the detention of senior management team members in recent months, describing the charges as unfounded. The company stated that the targeting of its personnel has become increasingly concerning, raising questions about the country’s business environment.
Key economic contributions
Despite the tensions, Barrick underscored its long-standing contributions to Mali’s economy. According to Barrick, the company has invested $10bn in the country over nearly three decades, with its mines accounting for 5 percent to 10 percent of Mali’s GDP annually. Loulo-Gounkoto remains a significant taxpayer and employer, with 97 percent of its workforce comprising Malian nationals.
However, the company warned that continued suspension of gold shipments could force it to halt operations, potentially dealing a severe blow to Mali’s economy.
Commitment to resolution
Barrick reaffirmed its commitment to finding a resolution but emphasised the need for constructive and mutual engagement. ‘We remain open to dialogue, but these actions must stop for the long-term sustainability of Mali’s mining sector,’ said CEO Mark Bristow.
As the situation unfolds, the arrest warrant against Bristow marks a new low in the strained relationship between Barrick and the Malian government, raising serious concerns about the future of foreign investment in the country.
