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French-Backed Contractor Withdraws from Mali's Largest Gold Mine, Threatening Over 600 Jobs

French-Backed Contractor Withdraws from Mali's Largest Gold Mine, Threatening Over 600 Jobs

Gounkoto Mining Services (GMS), a contractor linked to France-based Bouygues Construction, is ceasing operations at Mali's largest gold mining complex, Loulo-Gounkoto, resulting in over 600 job losses. This decision follows unresolved tensions between Barrick Mining, the Canadian company overseeing the complex, and the Malian government regarding taxes, ownership, and operational control. The withdrawal of GMS has contributed to a significant reduction in Mali's gold output, which fell by 23% in 2025. Despite the operational challenges, the Loulo-Gounkoto complex remains a critical asset for Barrick, generating substantial revenue.
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French Contractor Withdraws from Mali's Largest Gold Mine Amid Tensions

French Contractor Withdraws from Mali's Largest Gold Mine Amid Tensions

French Contractor Withdraws from Mali's Largest Gold Mine Amid Tensions
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Barrick Contractor Exits Mali, Resulting in Over 600 Layoffs Amid Operational Challenges

Barrick Contractor Exits Mali, Resulting in Over 600 Layoffs Amid Operational Challenges

Barrick Contractor Exits Mali, Resulting in Over 600 Layoffs Amid Operational Challenges
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B2Gold Reports Higher-Than-Expected Q1 Gold Output, Secures Fuel Supply for Mines

B2Gold Reports Higher-Than-Expected Q1 Gold Output, Secures Fuel Supply for Mines

B2Gold Reports Higher-Than-Expected Q1 Gold Output, Secures Fuel Supply for Mines
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Lundin Gold Announces Record Dividend Following Strong Financial Performance

Lundin Gold Announces Record Dividend Following Strong Financial Performance

Lundin Gold Announces Record Dividend Following Strong Financial Performance
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Aris Mining Reports Record Q1 2026 Financial Results Amid Expansion Efforts

Aris Mining Reports Record Q1 2026 Financial Results Amid Expansion Efforts

Aris Mining Reports Record Q1 2026 Financial Results Amid Expansion Efforts
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Venezuela Enacts New Mining Law to Attract International Investment

Venezuela Enacts New Mining Law to Attract International Investment

Venezuela has enacted a new mining law, 'Ley Orgánica de Minas,' aimed at restructuring its mining framework to attract international investment. The law opens the sector to foreign investment for developing and mining gold and other minerals, allowing their commercialization domestically and internationally. It establishes mining concession terms for up to 30 years, renewable for two additional ten-year periods, and introduces mediation and arbitration mechanisms for dispute resolution. The law also sets royalty and tax frameworks, with royalties payable in cash or kind.
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Mozambique Proposes Mining Law Reforms to Increase State Stake and Ban Raw Mineral Exports

Mozambique Proposes Mining Law Reforms to Increase State Stake and Ban Raw Mineral Exports

Mozambique is set to implement significant reforms to its mining laws, requiring the state to hold a minimum 15% stake in all mining projects and banning the export of unprocessed minerals. These changes aim to enhance domestic value capture from the country's natural resources. The draft revision of the mining law, scheduled for parliamentary debate, reflects a policy shift towards strengthening state participation and encouraging local mineral processing. The proposed framework allows the government to increase its ownership beyond 15% on a project-by-project basis and introduces stricter oversight across the mining value chain.
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Arizona Eagle Mining Reports Promising Drilling Results at Eagle Project

Arizona Eagle Mining Reports Promising Drilling Results at Eagle Project

Arizona Eagle Mining Reports Promising Drilling Results at Eagle Project
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Aris Mining Reports Record Q1 2026 Results with Strong Cash Flow and Production

Aris Mining Reports Record Q1 2026 Results with Strong Cash Flow and Production

Aris Mining Reports Record Q1 2026 Results with Strong Cash Flow and Production
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Barrick Contractor Exits Mali, Resulting in Over 600 Layoffs Amid Operational Challenges

Barrick Contractor Exits Mali, Resulting in Over 600 Layoffs Amid Operational Challenges

The largest contractor at Barrick Mining's Loulo-Gounkoto gold complex in Mali is ceasing operations and laying off more than 600 employees. This decision follows sluggish production and investment at the complex, which Barrick regained control of after a dispute with the Malian government over taxes and ownership. The contractor, Gounkoto Mining Services (GMS), has issued termination notices to its workers, and neither the Gounkoto nor Yalea North mines have resumed production since Barrick's takeover. The move reflects Barrick's strategy to reduce exposure to higher-risk assets amid ongoing operational and infrastructure challenges.
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Barton Gold Holdings Presents Strategic Growth Plans at RIU Sydney Resources Roundup

Barton Gold Holdings Presents Strategic Growth Plans at RIU Sydney Resources Roundup

Barton Gold Holdings Presents Strategic Growth Plans at RIU Sydney Resources Roundup