18 hours ago
Mali court appoints provisional administrator to run Barrick Mining's complex
BAMAKO, June 16 (Reuters) - A court in Mali has ordered the appointment of a provisional administrator for Barrick Mining's ( opens new tab Loulo-Gounkoto gold complex, a presiding judge said on Monday.
Soumana Makadji, a former health minister, will take over as provisional administrator for a period of six months, the judge said.
The mine has been suspended since January due to a standoff between the Canadian miner and Mali's government over taxes and ownership.
The government, a shareholder in the Loulo-Gounkoto gold mining complex, in May asked the Bamako Commercial Court to appoint an administrator, signalling its desire to reopen the complex amid record-high global gold prices.
Barrick shares were trading down 0.7% in Toronto in early Monday trade.
Barrick did not immediately respond to an emailed request for comment while a spokesperson for Mali's mines ministry declined comment.
