The Malian government has started enforcing a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto site, according to a staff memo from the Canadian mining company.
A Barrick employee in Mali confirmed the authenticity of the letter.
The memo stated that the provisional order was issued last week, and the government began enforcing it on January 11.
This development follows Barrick’s warning on January 6 that it would have to suspend operations temporarily if restrictions on its gold shipments were not lifted within a week.
The Loulo-Gounkoto mine is a significant gold-producing asset for Barrick, which is the world’s second-biggest gold miner by volume.
The seizure of gold stock by the Malian government may have implications for the mine’s operations and Barrick’s overall gold production.
