Mali Court Orders New Administrator for Loulo-Gounkoto Gold Mine Amidst Dispute

A court in Mali has ordered the assignment of Soumana Makadji as the provisional administrator for Barrick Mining's Loulo-Gounkoto gold complex. The appointment comes amidst a lingering conflict between the Canadian mining corporation and Mali's government related to taxes and ownership disputes that have halted operations since January.

The decision to appoint Makadji, a former health minister, for a six-month term was made by a presiding judge. The Mali government, which holds shares in the mining operation, sought this appointment to reopen the complex at a time when global gold prices are reaching unprecedented highs.

Barrick Mining's stocks experienced a decline of 0.7% in Toronto following the announcement. Both the company and Mali's mines ministry remained tight-lipped about the ruling, opting not to provide any immediate comments when reached by email.

(With inputs from agencies.)