Barrick Gold Mine Contributed Big to Mali’s Economy

The flagship Loulo-Gounkoto gold mine complex is entirely managed by locals, he noted.

SEATTLE (Scrap Monster): Barrick Gold Corporation has been a valuable partner to Mali for nearly three decades now. The company has partnered with the Transition Government of Mali and local stakeholders to play a key role in diversifying the country’s mining industry and to promote the country as a major investment destination, noted Mark Bristow, President and Chief Executive.

While addressing media persons, Bristow noted that its mines have contributed nearly $10 billion to the country’s economy in the form of taxes, royalties, salaries and supplier payments. Over the past decade, it has accounted for almost one-tenth of Mali’s economy. The company has played a key role in developing a world-class local skill base. The flagship Loulo-Gounkoto gold mine complex is entirely managed by locals, he noted.

According to the company, the Loulo-Gounkoto mining complex has been one of world’s largest gold producers and also a key contributor to the company’s bottom line.

As part of its commitment to promote renewable energy sources, it has extended its solar farm capacity to 60 megawatts. Furthermore, it has commissioned a new battery energy storage system at the mine complex. Also, its recently completed water distribution system serves nearly 13,000 villagers.

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