Barrick suspends Loulo-Gounkoto after Mali seizes its gold

Barrick halted operations at its Mali complex after the government flew gold stocks to a state-owned bank in Bamako. Reuters estimated the gold at about $245m. Barrick’s shares had fallen more than 20% since Mali’s first threats in October.

Why it matters. When a host state blocks exports, a world-class mine can stop producing cash overnight.

Source

MINING.COM

In the course

Module 10: Risk and jurisdiction