The Loulo-Gounkoto complex, in Mali, is poised to uphold its position among the world’s top ten gold producers, as it remains on course to meet this year’s production targets and actively replenishes the reserves depleted through mining activities, says president and CEO Mark Bristow.

The mine is forecast to produce between 510 000 oz and 560 000 oz at an all-in sustaining cost of $1 070/oz to $1 150/oz.

Barrick manages five of the top ten largest gold mines, including Carlin in the US, Kibali, in the Democratic Republic of Congo, Cortez, in the US and Pueblo Viejo in the Dominican Republic.

Bristow emphasises that Barrick’s exploration teams are actively uncovering new growth opportunities in the Loulo region. Updated geological models have already identified new high-priority targets with the potential to yield significant discoveries in the future.

“We remain committed to Mali, and as we invest in future growth here we look forward to maintaining a mutually beneficial partnership with the authorities and our in-country stakeholders,” he stated.

Bristow also highlights that Mali played a crucial role in shaping Barrick’s philosophy of fostering “genuine partnerships” with its host governments.

“Close relationships can over time be stressed by misconceptions but in the past we have always been able to find solutions through open and transparent dialogue. Mutually acceptable solutions can be achieved if there is a genuine commitment to seek outcomes that deliver real and long-term value for Mali and its people,” he said.

Over the course of its 26-year presence in Mali, Barrick has collaborated with successive governments and local partners to foster the growth of Mali’s mining industry. During this time, Barrick has contributed nearly $10-billion to the Malian economy through taxes, royalties, employee salaries and payments to local suppliers.