Latest news with #MarkBristow
Canada Standard
3 days ago
- Business
- Canada Standard
Canadian gold miner seeks mediation in African dispute
Barrick has said its employees remain in detention in Mali, and exports from its mine have been blocked for months Canadian company Barrick Mining has appealed to the World Bank's arbitration tribunal to settle a legal dispute with Mali. The miner currently risks losing control of its gold operations in the West African country, Reuters reported on Friday. The request to the International Centre for Settlement of Investment Disputes (ICSID) comes ahead of a Malian court ruling scheduled for June 2 on the government's application to place the mine under provisional administration. Barrick's Loulo-Gounkoto complex, which produced nearly 700,000 ounces of gold in 2023, has been closed since January after Mali seized three tons of gold from the mine over alleged unpaid taxes - a claim Barrick denies. According to a filing on the ICSID's website, the mining giant is seeking "provisional measures" to prevent further actions by the Sahel state's military leadership that could exacerbate the dispute. The former French colony is one of Africa's top gold producers, with large-scale operations such as the Loulo-Gounkoto mines, which are 80% owned by Barrick and 20% by the Malian government. Since taking power in a coup in 2020, the new leadership in Bamako has sought more revenue from the sector to boost state income amid rising gold prices. In 2023, a new mining code was introduced allowing the military government to claim a stake of up to 30% in any new projects. READ MORE: Mali and Canadian miner fail to resolve payment dispute Bloomberg Barrick, one of the world's largest gold producers, has been operating in Mali for nearly three decades and insists it has complied with Malian law and its binding mining conventions. Tensions escalated in late 2024 when four Barrick executives were detained and a warrant was issued for CEO Mark Bristow, all on charges of money laundering and financing of terrorism - allegations the company says are untrue. Negotiations between the two sides recently collapsed after Mali demanded a lump-sum payment of 125 billion CFA francs ($197 million) in unpaid revenues, while Barrick proposed a structured payment plan. Earlier this week, the mining firm issued a statement claiming that the Malian government's attempt to "interfere with Loulo-Gounkoto's operations is without precedent or lawful justification." "This latest escalation by the Malian government follows the continued unlawful detention of several Barrick employees - now held for over five months - and the ongoing blockage of gold exports from the complex," the company said. Barrick is not the only Western company under pressure in the Sahel region. In neighboringNiger, French nuclear fuel firm Orano lost its license to the Imouraren uranium mine in 2024. The military government also seized its subsidiary Somair later that year. Orano has taken legal action against Niger's government, citing illegal detention and property confiscation. (
Yahoo
5 days ago
- Business
- Yahoo
Global Mining Leaders Confirmed to Speak at Resourcing Tomorrow 2025
London, United Kingdom--(Newsfile Corp. - May 28, 2025) - Resourcing Tomorrow, where the world's mining leaders meet, has unveiled the first wave of confirmed speakers for its highly anticipated 2025 return to London, from December 2 to 4. Renowned for attracting the influential leaders shaping the future of mining, this year's conference boasts distinguished individuals as speakers including esteemed Barrick Mining Corp CEO and President, Mark Bristow, and Endeavour Mining Executive Vice President, Sonia Scarselli, amongst others. With the global race to secure minerals and metals intensifying, this year's event will bring together key voices steering the sector forward, from major producers and policymakers to investors and innovators. This year's agenda addresses industry adaptation to shifting global geopolitical dynamics, growing sustainability expectations, and increased urgency around the need for resilient and responsible supply chains. Executives from leading international mining companies will take to the stage to share their perspectives on topics that are most crucial to the sector today. Among the distinguished confirmed speakers are: Mark Bristow, President and CEO, Barrick Mining Corp Sonia Scarselli, Executive Vice President, Endeavour Mining Carol Plummer, Senior Vice President Sustainability People and Culture, Agnico Eagle Mines Evy Hambro, Global Head of Thematic and Sector Investing, BlackRock Bill Cobb, Vice President and Chief Sustainability Officer, Freeport McMoRan Rohitesh Dhawan, President and CEO International Council of Mining and Minerals, ICMM Taylor Melvin, President and CEO, Ivanhoe Electric David Awram, Senior Executive Vice President, Sandstorm Gold Royalties Brent Bergeron, Senior Vice President Corporate Affairs and Sustainability, Pan American Silver Jonathan Cordero, CEO, Saudi Gold Refinery Sir Martin Sorrell, Chairman, S4 Capital and Founder, WPP Sarah Jones, Minister of State Department for Energy Security and Net Zero and Department for Business and Trade, UK Stephen Lecce, Minister of Energy and Mines, Ontario, Canada Alberto Castronovo, Ministry of Enterprises and Made in Italy Geoffrey Pyatt, former Assistant Secretary of State for the Bureau of Energy Resources US Government "We are excited to bring together some of the most senior leaders in the mining industry to share first-hand insights on key challenges such as geopolitical risks, evolving regulatory landscapes, resource security and the operational complexities companies face today," said Nick Rastall, Resourcing Tomorrow Event Director. The event will also feature influential government figures driving policy and regulatory frameworks critical to the sector's future. Together, these leaders will explore strategic dialogues on capital flows, resource security, sustainability and innovation, setting the agenda for the global minerals and metals industry. Resourcing Tomorrow 2025 will host more than 2,000 industry leaders across mining, energy, finance and policy, providing an unrivalled platform to build partnerships, spark ideas and deliver actionable outcomes. With more speakers to be announced in the coming weeks, Resourcing Tomorrow 2025 is set to lead the defining conversations of tomorrow. To register or learn more visit or contact connect@ Contact:Jessica Mockler, Associate Marketing Director, To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
Barrick Sets the Standard in Advancing United Nations' Sustainable Development Goals
All amounts expressed in US dollars TORONTO, May 19, 2025 (GLOBE NEWSWIRE) -- As the world moves towards the United Nations' Sustainable Development Goals 2030 target, Barrick Mining Corporation (NYSE:B) (TSX:ABX) remains committed to playing its part by driving economic growth, enabling social progress and protecting the environment, says president and chief executive Mark Bristow in the company's 2024 Sustainability Report, published today. Called Beyond the Horizon, the report highlights Barrick's journey from the transformational merger in 2019 to becoming a leader in responsible mining, underscoring its commitment to sustainability-driven growth, community empowerment and environmental stewardship, focused on long-term value creation and measurable outcomes. 'When we created the new Barrick in 2019, our vision was to build a business that delivers sustainable value for generations to come. Today, that vision is becoming reality. We're contributing meaningfully to our host countries' economies, developing local business capacity, and leaving a lasting legacy across every region where we operate. At Barrick, sustainability is not part of the business — it is the business. We make concrete plans, invest in their delivery and measure our impact at the community level to ensure real, lasting change. As Barrick grows, so do the opportunities for our host communities,' he says. In the six years since the merger, Barrick has distributed over $100 billion in economic value across its host countries through wages, local business support and tax contributions. Barrick's Community Development Committees (CDCs), established at every site, have invested more than $200 million in community-led projects. These include schools, clinics, water infrastructure and sustainable farming programs, all managed directly by local communities to ensure projects meet real needs and drive long-term economic resilience. This year's report demonstrates that the value invested is only the start, and key metrics, aligned with the SDGs, are focused on tangible improvements to eradicate poverty, are tracked through time, and with ambitious targets set for 2030. As Barrick Mining Corporation enters a new growth phase through the rest of the decade, it has also recalibrated its greenhouse gas (GHG) emissions profile and reduction roadmap to align with its expanding production base, and increased renewable energy footprint supporting its ambitious Net Zero by 2050 target. 'We're not buying our growth — we're building it,' says group sustainability executive Grant Beringer. 'That means we're adding new emissions, not inheriting existing ones. Our forecast has been updated to transparently reflect this, and we continue to invest in renewables, energy efficiency and supplier engagement to ensure we scale with discipline. Our 2050 Net Zero commitment remains firm – while our medium-term emissions targets are still aligned with our original principles, albeit linked to emissions intensity reductions, in line with our evolving production profile.' This year, Barrick introduced a new site-level Sustainable Development Goal (SDG) performance framework, setting a benchmark for transparent, community-focused progress. This framework tracks site-level development across indicators such as clean water, education and healthcare, reflecting Barrick's commitment to measurable impact in line with the United Nations SDGs. 'We use the SDGs not as a communications tool but as a delivery framework,' says Beringer. 'Whether it's reducing malaria in the DRC, improving maternal health in Pakistan, or restoring water infrastructure in Argentina, our success is measured in real-world outcomes for real people.' Other highlights for the year include the fact that 97% of Barrick's employees and 76% of its senior site management are host country nationals. In 2024, Barrick spent $7.1 billion with local and in-country suppliers, driving local business growth and economic resilience. The company also reused or recycled 85% of its water intake, and major solar and hydro investments are currently underway in Pakistan, Argentina and the DRC. The full 2024 Sustainability Report, Beyond the Horizon, is available on Barrick's website at EnquiriesInvestor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@ Website: Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this release and the Sustainability Report, including any information as to our sustainability strategy and vision, targets, projects, plans, or future financial or operating performance, constitutes 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as 'vision', 'strategy', 'believe', 'expect', 'target', 'plan', 'commitment', 'objective', 'aim', 'goal', 'continue', 'budget', 'potential', 'may', 'will', 'can', 'should', 'could', 'would', and similar expressions. In particular, this release and the Sustainability Report contain forward-looking statements including, without limitation, with respect to: (i) Barrick's sustainability strategy and vision; (ii) Barrick's environmental, health and safety, corporate social responsibility (including social and economic development, water management, tailings, hazardous waste management, diversity, equity and inclusion, community relations, resettlement and disease prevention), human rights and biodiversity programs, policies and performance; (iii) Barrick's climate change strategy and associated greenhouse gas emissions reductions targets, including with respect to our Scope 3 emissions and associated targets, as well as the estimated capital expenditures required and our ability to meet our greenhouse gas emissions reduction targets; (iv) climate risks and opportunities identified through our climate scenario analysis; (v) the estimated timing and ability of Barrick to achieve environmental, social, health and safety, and energy reduction targets, including our greenhouse gas emission reduction targets; (vi) Barrick's strategy to address legacy human rights issues and planned independent site assessments; (vii) the anticipated benefits of Barrick's renewable energy investments, including solar projects at Reko Diq, Nevada Gold Mines and Kibali; (viii) Barrick's 2025 materiality assessment; (ix) the status of negotiations with the Government of Mali in respect of ongoing disputes regarding the Loulo-Gounkoto Complex and Barrick's commitment to reach a mutually acceptable solution; and (x) our joint ventures, partnerships and industry association memberships. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Barrick as at the date of this Sustainability Report in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: damage to the Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick's handling of environmental matters or dealings with community groups, whether true or not; changes in national and local government legislation, taxation, controls or regulations, and/or changes in the administration of laws, policies, and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States, and other jurisdictions in which Barrick does or may carry on business in the future; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with diseases, epidemic and pandemics; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; whether benefits expected from recent transactions are realized; employee relations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to related to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick's ability to achieve its sustainability goals, including our climate-related goals and greenhouse gas emissions reduction targets, in particular our ability to achieve our Scope 3 emissions targets which requires reliance on entities within Barrick's value chain, but outside of the Company's direct control, to achieve such targets within the specified time frames risks associated with artisanal and illegal mining; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); changes in U.S. trade, tariff and other controls on imports and exports, tax, immigration or other policies that may impact relations with foreign countries, result in retaliatory policies, lead to increased costs for raw materials and components, or impact Barrick's existing operations and material growth projects; the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licences by governmental authorities; failure to comply with environmental and health and safety laws and regulations; and our ability to successfully close and integrate acquisitions or complete divestitures. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this release and the Sustainability Report are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this release and the Sustainability Report. Barrick Mining Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Mali hearing on Barrick's Loulo-Gounkoto mines postponed to May 22
BAMAKO (Reuters) - A Malian court hearing scheduled for Thursday on whether to put Barrick Mining's Loulo-Gounkoto mining complex under provisional administration has been postponed to May 22, the president of the court said on Mining, previously called Barrick Gold, and Mali's government have been at odds since 2023 over the implementation of a new mining code that raises taxes and gives Mali's government a greater share in the gold mines. Mali's military government, like others in West Africa, says it wants to increase its revenue from the mining sector as it believes current arrangements are unfair and foreign multinationals must comply with its demands if they want to keep operating in the gold-rich country. Barrick says it has invested heavily in the Malian economy over more than 20 years and accuses the government of moving its goal posts and asking for more money, as well as unfairly detaining some of its executives in an attempt to blackmail the company. Most other multinational mining companies in Mali have agreed to the new code. Australia's Resolute Mining reached an agreement after its chief executive was detained for over a week in Mali. On Thursday, Bamako's Tribunal de Commerce court was due to consider a request by the Malian state, which holds a 20% stake in the Loulo-Gounkoto mining complex, to put the mines under a provisional administration. The aim of the request is to restart operations at the complex, which have been suspended for months, according to a person familiar with the matter. Granting the request would represent a major escalation of the dispute between the West African state and the Canadian miner. Operations at the mines were halted in mid-January after the government seized around 3 metric tons of gold worth some $317 million at last week's price, accusing the company of not fulfilling its tax obligations. The government had been blocking Barrick's gold exports since early November. Barrick denies any wrongdoing. In its May 7 earnings update, Barrick said it had on April 17 received a notice from the government threatening to impose provisional management unless the mines resumed operations by April 20. Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports. The latest development comes as the two sides negotiate a memorandum of understanding to resolve the dispute. Barrick CEO Mark Bristow told Reuters this month that the two sides had previously come close to reaching an agreement three times.
Straits Times
15-05-2025
- Business
- Straits Times
Mali hearing on Barrick's Loulo-Gounkoto mines postponed to May 22
BAMAKO - A Malian court hearing scheduled for Thursday on whether to put Barrick Mining's Loulo-Gounkoto mining complex under provisional administration has been postponed to May 22, the president of the court said on Thursday. Barrick Mining, previously called Barrick Gold, and Mali's government have been at odds since 2023 over the implementation of a new mining code that raises taxes and gives Mali's government a greater share in the gold mines. Mali's military government, like others in West Africa, says it wants to increase its revenue from the mining sector as it believes current arrangements are unfair and foreign multinationals must comply with its demands if they want to keep operating in the gold-rich country. Barrick says it has invested heavily in the Malian economy over more than 20 years and accuses the government of moving its goal posts and asking for more money, as well as unfairly detaining some of its executives in an attempt to blackmail the company. Most other multinational mining companies in Mali have agreed to the new code. Australia's Resolute Mining reached an agreement after its chief executive was detained for over a week in Mali. On Thursday, Bamako's Tribunal de Commerce court was due to consider a request by the Malian state, which holds a 20% stake in the Loulo-Gounkoto mining complex, to put the mines under a provisional administration. The aim of the request is to restart operations at the complex, which have been suspended for months, according to a person familiar with the matter. Granting the request would represent a major escalation of the dispute between the West African state and the Canadian miner. Operations at the mines were halted in mid-January after the government seized around 3 metric tons of gold worth some $317 million at last week's price, accusing the company of not fulfilling its tax obligations. The government had been blocking Barrick's gold exports since early November. Barrick denies any wrongdoing. In its May 7 earnings update, Barrick said it had on April 17 received a notice from the government threatening to impose provisional management unless the mines resumed operations by April 20. Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports. The latest development comes as the two sides negotiate a memorandum of understanding to resolve the dispute. Barrick CEO Mark Bristow told Reuters this month that the two sides had previously come close to reaching an agreement three times. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
