A MILITARY helicopter removed the final tonne of gold from Mali’s largest mining operation on Thursday, as a court-appointed administrator seeks to restart the troubled facility, said Reuters on Thursday.
The aircraft departed the Loulo-Gounkoto complex with bullion worth about $107m after a five-hour operation, said Reuters citing sources familiar with the matter. The gold had been stored at the site since January when authorities initially seized three tons of the precious metal.
Mali’s military government suspended operations at the Barrick-owned facility in mid-January following a dispute over export restrictions and mining regulations. Several executives were detained whilst authorities blocked shipments for two months, prompting the Canadian mining giant to launch World Bank arbitration proceedings.
Former health minister Soumana Makadji was appointed by a Bamako court last month to oversee the mine’s revival. Sources indicate he plans to finance operations by selling the confiscated gold stocks.
Processing activities resumed on Monday at the plant, which converts ore into gold bars. Internal projections suggest first production could begin within a fortnight, though full extractive operations remain suspended.
The seizure represents the latest escalation in ongoing tensions between Barrick and Mali’s authorities over implementation of revised mining codes. The new regulations increase taxation and expand government ownership stakes in mining ventures.
The Loulo-Gounkoto complex has been central to disputes that began in 2023 when Mali sought greater control over its mineral resources. The facility represents one of the country’s most significant gold production sites, said Reuters.
