Barrick Resolves Mali Dispute, Sets Stage For An IPO

Barrick Mining Corporation (NYSE:B) has resolved a long-running dispute with the government of Mali. After nearly two years, including almost a year of halted production, the firm restored control over Loulo-Gounkoto, one of its most important gold assets. Barrick agreed to pay about 244 billion CFA francs, or roughly $430 million, while authorities will return three metric tons of seized gold. The Conflict Timeline The dispute began in 2023 when Mali revised its mining code. The military-led government wanted increased state revenues through higher taxes and royalties. Also Read: Barrick Warns About Destabilization In Mali, Could Halt One Of Its Largest Mines Barrick resisted, calling for the honoring of the existing agreements. Tensions escalated through 2024, as audits intensified and export approvals slowed. By early 2025, the court ordered the seizure of stockpiled gold, blocking exports and forcing the firm to suspend operations. Then, in June, the government placed the mine under provisional state control, effectively taking it over. Several Barrick employees were detained, and negotiations stalled, eventually leading to the CEO’s departure. Yet, last month saw a breakthrough after the firm agreed to a financial payment and withdrew its international arbitration claims. In return, Mali released detained employees and restored operational control of the complex. The return of the confiscated gold is now proceeding as a procedural step following the formal conclusion of legal proceedings, clearing the way for the mine to restart under Barrick’s management. Billions in Play Gold has been one of the best-performing assets in 2025, rising over 55% year-to-date. Meanwhile, Loulo-Gounkoto has been one of the company’s most productive assets. In the last few fully operational years, it produced between 700,000 and 725,000 ounces annually. With the current gold price exceeding $4,300 per ounce, this level of production yields annual revenue potential of more than $3 billion. With the Mali situation now resolved, Barrick removes a significant geopolitical and operational uncertainty at a time when gold prices are at record highs. The agreement also strengthens the company’s strategic flexibility, further opening the door to a potential spinoff of its North American gold assets. According to recent news, the spinoff idea is currently under review. If the IPO goes through, Barrick would separate its premier assets, such as Fourmile, Pueblo Viejo, and Nevada Gold Mines, into a standalone entity. Owing to the asset quality and safety of the jurisdictions, the management expects to unlock new value for the shareholders. B Price Action: Barrick Mining shares were up 1.23% at $43.46 during premarket trading on Tuesday, according to Benzinga Pro data. Read Next: From AI To Au: Why Investors Are Piling Into Gold ETFs Again Photo by Phawat via Shutterstock