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Barrick Gold, which owns Mali’s biggest gold mine complex Loulo-Gounkoto, said in a recent statement its mines in the country have “thus far not been affected” by sanctions imposed by the Economic Community of West African States (Ecowas).
The 15-state regional bloc imposed tough economic sanctions, and said it would also shut borders and sever diplomatic ties, in response to Mali’s delay in holding elections following a 2020 military coup. Barrick said its mines had sufficient stocks and stores to continue operating normally, adding however that the situation was “very fluid” and it was monitoring it closely. Mali is one of Africa’s biggest gold producers, with mining contributing around 10% of its gross domestic product (GDP).
Most of the other companies operatin in the country are monitoring the situation.