Barrick Gold Seeks Fair Resolution of Mali Dispute Through Arbitration

SEATTLE (Scrap Monster): Barrick Gold Corporation declared that its entities in Mali have submitted a request to the International Centre for the Settlement of Investment Disputes (ICSID) seeking settlement of the ongoing dispute with Malian government in connection with the company’s Loulo-Gounkoto complex operations, in accordance with the provisions of the applicable Mining Conventions.

The company, on Monday, had threatened to suspend its operations in the African nation if gold exports continued to remain blocked.

A press release by the company stated that the latest move reflects its commitment to adhering to established processes for resolving disputes in a fair and transparent manner. The arbitration mechanism has previously proven to be an effective tool for reinforcing partnerships and arriving at mutually acceptable solutions, it noted.

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Mark Bristow, President and CEO, Barrick Gold said that the company has demonstrated its long-term commitment to the country and its people throughout the past three decades of operations in Mali. It remains open to continue dialogue with the country’s government towards amicable resolution of the issues, which in turn will help to ensure the long-term success of the Loulo-Gounkoto complex, he added.