New York- and Toronto-listed Barrick Gold Corporation on Wednesday, December 18, confirmed that its operating entities in Mali, namely Société des Mines de Loulo SA and Société des Mines de Gounkoto SA, have submitted a request for arbitration to the International Centre for the Settlement of Investment Disputes, in accordance with the provisions of their respective Mining Conventions with the State of Mali, to address matters of disagreement regarding the Loulo-Gounkoto complex.
This step reflects Barrick’s commitment to adhering to established processes for resolving disputes in a fair and transparent manner.
The arbitration mechanism, provided for under the Somilo and Gounkoto Mining Conventions with the State, has previously proven to be an effective tool for reinforcing partnerships and finding mutually acceptable solutions through an independent and competent authority.
“Over its nearly three decades of operating in Mali, Barrick has consistently demonstrated its long-term commitment to the country and its people. While this process is ongoing, Barrick remains open to continued dialogue with the Government to resolve these issues amicably and ensure the long-term success of the Loulo-Gounkoto complex,” Barrick president and CEO Dr Mark Bristow stated in a release recently