Written by: Hussein Ahmed

The Loulo-Gounkoto mine, Mali’s largest gold mining complex, recorded a strong return to production during the first quarter of 2026, after months of halted operations due to disputes between the Malian government and Canadian mining company Barrick Gold over the implementation of the new mining law.

Barrick Mining Corporation, the mine's operator, announced in its financial report issued on Monday, May 11, that the mine produced approximately 80,000 ounces of gold during the period between January and March 2026, in its first full quarter of operation since resuming activity late last year.

Mali regains momentum in gold production with the reopening of the Loulo-Gonkoto mine

The company confirmed that the mine's restart process was proceeding at a faster pace than expected, noting that the resumption of production activities is progressing positively after reaching a settlement agreement with the financial authorities, ending months of tension and regulatory disputes that directly affected the country's mining sector.

The Loulo-Gonkoto mine had ceased operations for most of 2025, amid a dispute between Barrick and the Malian government over the implementation of the new 2023 mining law, through which Malian authorities seek to boost state revenues from natural resources and reorganize investment conditions in the mining sector.

This dispute led to a sharp decline in gold production last year, with the company explaining that total production in 2025 did not exceed 36,200 ounces, compared to about 723,000 ounces produced in the previous year, which constituted a significant loss for the mine and for the financial economy, which relies mainly on gold exports.

Gold is one of Mali's most important economic resources, representing a major source of foreign currency and state revenue. The mining sector also provides thousands of direct and indirect jobs. Therefore, the resumption of operations at the Loulo-Gonkoto mine is seen as a significant step towards restoring production stability and bolstering the national economy.

Observers believe that the agreement between the Malian government and Barrick could open the door to a new phase of cooperation between the two parties, especially given the authorities' desire to maintain the attractiveness of the mining sector to foreign investors, while ensuring greater returns for the state from its mineral wealth.