Mali court orders return of seized $400 million gold to Barrick after $430 million settlement
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A Malian court ordered the return of three metric tons of gold, valued at about $400 million, to Barrick Gold Corporation on December 10, resolving a year-long seizure dispute at the Loulo-Gounkoto mining complex. The gold, confiscated by military helicopter in January and held in BMS Bank's vaults in Bamako, will now be transported by Barrick following the ruling.
The decision stems from a November settlement between Barrick and Mali's military-led government after two years of negotiations triggered by the 2023 mining code. Barrick agreed to pay $430 million to settle the regulatory conflict, regaining full operational control of Loulo-Gounkoto next week.
The agreement also includes the release of four detained Barrick employees and the withdrawal of the company's international arbitration case against Mali. A Barrick spokesperson declined to comment, while Mali's Mines Ministry did not respond to requests for information.
