Loulo-Gounkoto Complex Maintains Status as Top 10 Gold Producer, Barrick Gold Corporation Reports

Barrick Gold Corporation’s Loulo-Gounkoto complex is set to retain its position as one of the world’s Top 10 gold producers, according to Barrick President and CEO Mark Bristow. The complex is on track to meet this year’s production guidance and continues to replenish the reserves depleted by mining operations.

During a briefing with local journalists in Bamako, Bristow highlighted the company’s commitment to growing Mali’s mining industry and promoting it as a global investment destination. Over the past 26 years, Barrick has worked closely with successive governments and local partners, contributing nearly $10 billion to the Malian economy through taxes, royalties, salaries, and payments to local suppliers.

Approximately 70% of the economic benefits generated by the Loulo-Gounkoto complex currently go to its Malian stakeholders. Over the past decade, the complex has contributed between 5% and 10% to Mali’s GDP. Moreover, Barrick has played a significant role in developing a mining skills base in the region, with the entire management team of Loulo-Gounkoto being citizens of Mali.

Bristow emphasized the importance of genuine partnerships with host governments, stating that open and transparent dialogue has been instrumental in finding mutually acceptable solutions to challenges. He expressed the company’s commitment to Mali and its intention to maintain a mutually beneficial partnership with the authorities and in-country stakeholders as they invest in future growth.

Barrick’s exploration teams are actively identifying new growth opportunities in the highly prospective Loulo region. Updated geological models have already identified high-priority targets that have the potential to yield major discoveries, ensuring the long-term sustainability of the complex.

In conclusion, Barrick Gold Corporation remains dedicated to Mali and its people. The company’s ongoing investments in the country’s mining industry, commitment to local stakeholders, and focus on responsible exploration and development demonstrate their long-term vision for sustainable growth.

For more information, please visit Barrick Gold Corporation’s website at www.barrick.com.