Malian Authorities Seize Gold from Barrick's Loulo-Gounkoto Mine

Malian authorities have begun airlifting gold stocks from Barrick Gold's Loulo-Gounkoto site. Around three tons valued at $245 million were reportedly seized. The military-led government is enforcing an order amidst an ongoing dispute with Barrick, potentially leading to operational suspensions.

Malian authorities have initiated the evacuation of gold stocks from Canadian miner Barrick Gold's Loulo-Gounkoto site via helicopter, multiple sources revealed on Monday. The removal process, which began on Saturday, signifies escalating tensions in an ongoing dispute.

According to sources, approximately three tons of gold, worth an estimated $245 million, have been seized. The destination of the gold remains undisclosed, and both Barrick and the Malian authorities have not provided any comments regarding the incident.

Barrick Gold has informed its Malian employees that the government is executing an order to confiscate the company's gold stockpile at the site. The company has further cautioned that this could lead to a suspension of operations if the dispute continues without resolution.

(With inputs from agencies.)