Barrick Confirms Arrest of Four Malian Employees, Reaffirms Commitment to Resolution of Disputes
Barrick Gold has confirmed the arrest and detention of four employees from its Loulo-Gounkoto mining complex in Mali. While the company disputes the charges, it continues to seek an amicable resolution with the Malian government. Since September 30, Barrick has been working to finalize a Memorandum of Agreement regarding their partnership, including the state's share of economic benefits and legal framework. President Mark Bristow stated that despite unsuccessful attempts so far, the company remains committed to resolving claims against the company and its employees, and securing the release of the detained staff.
Barrick Gold ha confermato l'arresto e la detenzione di quattro dipendenti del suo complesso minerario Loulo-Gounkoto in Mali. Sebbene l'azienda contesti le accuse, continua a cercare una risoluzione amichevole con il governo maliano. Dal 30 settembre, Barrick sta lavorando per finalizzare un Memorandum di Intesa riguardante la loro partnership, inclusa la quota statale dei benefici economici e il quadro giuridico. Il presidente Mark Bristow ha dichiarato che, nonostante i tentativi infruttuosi finora, l'azienda rimane impegnata a risolvere le pretese contro di essa e i suoi dipendenti, e a garantire il rilascio del personale detenuto.
Barrick Gold ha confirmado el arresto y la detención de cuatro empleados de su complejo minero Loulo-Gounkoto en Mali. Aunque la empresa impugna los cargos, sigue buscando una resolución amigable con el gobierno maliense. Desde el 30 de septiembre, Barrick está trabajando para finalizar un Memorando de Acuerdo sobre su asociación, que incluye la parte del estado de los beneficios económicos y el marco legal. El presidente Mark Bristow declaró que, a pesar de los intentos fallidos hasta ahora, la compañía sigue comprometida a resolver las reclamaciones contra la empresa y sus empleados, y a asegurar la liberación del personal detenido.
Barrick Gold는 말리의 루로-군코토 광산 단지에서 4명의 직원 체포 및 구금 사실을 확인했습니다. 회사는 혐의를 부인하면서도 말리 정부와의 원만한 해결을 모색하고 있습니다. 9월 30일 이후, Barrick은 경제적 혜택과 법적 틀에 대한 주 정부의 몫을 포함한 파트너십에 관한 합의서를 최종 확정하기 위해 작업하고 있습니다. 마크 브리스트로우 대통령은 지금까지의 시도가 실패했음에도 불구하고, 회사는 회사와 그 직원에 대한 주장 해결 및 구금된 직원의 석방을 확보하기 위해 계속 노력하고 있다고 밝혔습니다.
Barrick Gold a confirmé l'arrestation et la détention de quatre employés de son complexe minier Loulo-Gounkoto au Mali. Bien que la société conteste les accusations, elle continue de chercher une résolution amiable avec le gouvernement malien. Depuis le 30 septembre, Barrick travaille à finaliser un Mémorandum d'Entente concernant leur partenariat, y compris la part économique de l'État et le cadre juridique. Le président Mark Bristow a déclaré que, malgré les tentatives infructueuses jusqu'à présent, l'entreprise reste déterminée à résoudre les réclamations contre elle et ses employés, et à obtenir la libération du personnel détenu.
Barrick Gold hat die Festnahme und Inhaftierung von vier Mitarbeitern aus seinem Loulo-Gounkoto-Bergbaukomplex in Mali bestätigt. Während das Unternehmen die Vorwürfe bestreitet, strebt es weiterhin eine einvernehmliche Lösung mit der malischen Regierung an. Seit dem 30. September arbeitet Barrick daran, ein Memorandum of Agreement über ihre Partnerschaft abzuschließen, einschließlich des Anteils des Staates an den wirtschaftlichen Vorteilen und dem rechtlichen Rahmen. Präsident Mark Bristow erklärte, dass das Unternehmen trotz bisher erfolgloser Versuche weiterhin daran festhält, die Ansprüche gegen das Unternehmen und seine Mitarbeiter zu klären und die Freilassung des festgehaltenen Personals zu sichern.
- None.
- Four employees detained and charged in Mali, potentially impacting operations
- Unsuccessful negotiations with Malian government over economic benefits sharing
- Ongoing legal disputes affecting business stability in the region
Insights
The arrest of four employees at Barrick's Loulo-Gounkoto complex in Mali represents a significant escalation in the ongoing dispute between the mining giant and the Malian government. This development poses material risks to Barrick's operations in the region, where the Loulo-Gounkoto complex is a important asset contributing substantial production volumes.
The dispute centers on two critical aspects:
- Economic benefit sharing with the Malian government
- Legal framework for operations management
The detention of employees often serves as leverage in such disputes, potentially forcing companies to accept less favorable terms. This situation could lead to increased operational costs, revised revenue sharing agreements, or potential production interruptions if not resolved promptly.
TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that four employees of its Loulo-Gounkoto mining complex had been charged and detained pending trial. While Barrick refutes these charges, it said it would continue to engage with the Malian government to find an amicable dispute settlement that would ensure the long-term sustainability of the complex.
President and chief executive Mark Bristow said that since September 30, the company had been actively seeking to finalize a Memorandum of Agreement that would guide Barrick’s partnership with the government in future, including the state’s share of the economic benefits generated by the complex and the legal framework under which this would be managed.
“Our attempts to find a mutually acceptable resolution have so far been unsuccessful, but we remain committed to engage with the government in order to resolve all the claims levied against the company and its employees and secure the early release of our unjustly imprisoned colleagues,” he said.
Barrick enquiries
Investor and media relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “continue”, “intended”, “committed”, “engage”, “negotiate”, “pursue” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the status of negotiations with the Government of Mali in respect of ongoing disputes regarding the Loulo-Gounkoto Complex and Barrick’s commitment to reach a mutually acceptable solution; the potential to increase the Government of Mali’s share in the economic benefits of Loulo-Gounkoto; and Loulo-Gounkoto’s partnership with the Government of Mali.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Mali and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
What happened to Barrick Gold (GOLD) employees in Mali in November 2024?
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