Barrick Gold’s Loulo-Gounkoto complex on track to meet production guidance

Speaking from the complex on Saturday, Barrick’s president and chief executive Mark Bristow also said that the commissioning of the Gara West open pit is ongoing, as is the extension of the solar power plant and the further strengthening of local partnerships.

“In the first half of the year, we’ve contributed $337 million to the Malian economy in the form of taxes, royalties, dividends, salaries and payments to local suppliers, taking the lifetime contribution of Barrick, previously Randgold, to $8.5 billion,” Bristow said. “We’re particularly proud of the fact the Gara West pit is being mined for us by two Malian contractors we have mentored.”

The executive pointed out that first as Randgold and now as Barrick, the Toronto-based company has been operating in Mali for 25 years and plans to stay there for another quarter of a century. 

“The strong and mutually rewarding partnerships we have forged with the government, local business partners and our host communities are the key to our success and an example to Africa’s other mining countries,” Bristow said.

The Loulo-Gounkoto complex comprises the Loulo and Gounkoto mining permits and is situated in western Mali, bordering Senegal.

Société des Mines de Loulo SA (Loulo) owns the Loulo gold mine, and Société des Mines de Gounkoto (Gounkoto) owns the Gounkoto gold mine. Both Loulo and Gounkoto are owned by Barrick (80%), and the State of Mali (20%).

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