Barrick Mining Corp has reached an agreement with unions at its Loulo-Gounkoto mine in western Mali, calling off strikes that had been set to begin Monday. The walkouts were planned over pay and labour-agreement disputes at a site that produced roughly 190,000 ounces of gold in the first half of 2026.
Barrick Mining Corp has reached an agreement with unions representing workers at its Loulo-Gounkoto mine in western Mali, avoiding strikes that were set to begin Monday, Bloomberg reported, citing Abdoulaye Coulibaly of Mali's National Workers' Union, or UNTM. According to Bloomberg: "The strike has been resolved," Coulibaly said.
Unions at Somilo SA and Gounkoto SA had each threatened four-day walkouts from September 28 through October 1 over overtime pay, mission-expense reimbursements and the implementation of existing labour agreements. Separately, unions at catering contractor Food & Events Africa had called a five-day work stoppage from September 28 through October 2 over overtime pay, benefits and worker welfare.
Mine output tied to a 2025 government settlement
Loulo-Gounkoto generated approximately 190,000 ounces of gold in the first half of 2026 after Barrick restored operations following a November 2025 settlement with Mali's military-led government. The mine had been under provisional state administration since June 2025, after nearly two years of escalating conflict over a new mining code introduced in 2023 that aimed to increase the state's revenue share.
The settlement required Barrick to pay the government $430 million and sign Mali's new mining code in exchange for dropped charges, the release of four detained staff members, and the termination of provisional state administration over the site. Mali subsequently renewed the Loulo mining permit for 10 years in February 2026, giving the operation a longer-term foundation.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
