A GOLD production forecast by Mali’s mines ministry is for a major increase this year, but the West African government assumes in its calculation that Barrick Gold’s Loulo-Gounkoto mine will be reopened, according to a report by Reuters.Loulo-Gounkoto was shut in January after three tons of gold were seized by the Mali government. This came amid a dispute over adoption of Mali’s 2023 Mining Code which Barrick has contested.In addition to having gold seized, four of Barrick’s employees have been detained since November on charges including money laundering and financing of terrorism – allegations the company denies.In February, Barrick signed an agreement with the government that also includes a dispute over tax. However, Malian authorities have yet to approve the deal, said Reuters.The newswire cited a ministry document it had seen which forecast 54.7 tons in gold production for this year. This is 23% higher than the 51.7 tons produced in 2024. The undated ministry document bases its annual estimate on a resumption of Barrick’s activities in March, forecasting output of 1.1 tons for the month – a target that will be missed.In its annual report this month, Barrick said it was now assuming a scenario in which production in Mali could restart on April 1, adding however that it was not guaranteed that a definitive agreement would be reached by that date, or at all.Reuters said Mali’s presidency or mines ministry did not immediately respond to its requests for comment regarding whether the forecast indicated the government might soon sign the agreement.A major gold producer in Africa, Mali has around fifteen operating gold mines, mainly owned by international companies.The post Mali gold output forecast assumes reopening of Barrick mine appeared first on Miningmx.
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