Barrick Mining Stock Surges Following Company’s Settlement With Mali Government to End Loulo, Gounkoto Mine Disputes

• All charges against the company, its staff, and affiliates will be dropped, and steps will be taken to release the four detained employees.
• Barrick will withdraw its ongoing arbitration cases at the International Centre for Settlement of Investment Disputes.
• Retail sentiment turned 'bullish' from 'neutral'.

Barrick Mining Corp. (B) announced on Monday that it reached an agreement with the Government of Mali to end all disputes related to the Loulo and Gounkoto mines.

All charges against the company, its staff, and affiliates will be dropped, and steps will be taken to release the four detained employees. The provisional administration of the Loulo-Gounkoto complex will be terminated, after which Barrick will regain complete operational control of the mines.

With this settlement, Barrick will withdraw its ongoing arbitration cases at the International Centre for Settlement of Investment Disputes.

Barrick Gold shares climbed 6% higher.

The dispute between Barrick and the Malian government reportedly began in 2023, following the introduction of a new mining code that increased taxes and boosted the state’s share in gold projects. 

According to a Reuters report, the two parties held talks on Friday, one week after Barrick’s interim CEO Mark Hill sent a letter requesting a return to negotiations.

Discussions covered a potential 10-year extension of Barrick’s mining license, which is set to expire in February 2026. They also addressed the possible release of four detained Barrick employees, the return of three metric tons of gold seized by Malian authorities, and the withdrawal of Barrick’s arbitration case against Mali.

Barrick halted operations at the Loulo-Gounkoto mine in January. A court later appointed a temporary administrator to restart production and blasting resumed in October.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits shifted to 'bullish' from 'neutral' a day earlier, accompanied by 'high' message volumes. 

Year-to-date, the stock has gained nearly 150%.

Also See: Why Is DGNX Stock Rising Premarket Today?

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