Canadian mining giant Barrick Gold has resumed operational control of one of Mali’s largest gold mining complexes, ending a dispute with the country’s military authorities that had lasted nearly two years.
The dispute escalated earlier this year after Barrick suspended operations following the introduction of a new mining code by the government, prompting a financial court to place the mine under temporary administration in June.
At the heart of the dispute were disagreements over the implementation of the new mining legislation. The standoff was resolved last month through a settlement valued at $430 million.
In a significant development, a Malian judge ordered last week the return of three tonnes of gold—worth an estimated $400 million—to the company, after the metal had been seized by authorities earlier this year.
Barrick said production would resume gradually, with a strong focus on training workers and contractors. The company also revealed plans to restructure its business by refocusing on its North American operations.
Barrick shares rose by around 1% on the Toronto Stock Exchange following the announcement, reflecting renewed investor confidence.
