Africa-Press. New details have emerged regarding the resumption of production at the Loulo-Gounkoto gold mine, the largest gold mine in Mali, operated by the Canadian group Barrick Gold.
After years of stalemate between the company and the Malian government, an agreement has been reached paving the way for the restart of operations at one of the country’s most strategic mining assets, expected to generate substantial revenues for Mali.
Barrick Gold plans a gradual restart of the Loulo-Gounkoto mine, with projected production in 2026 estimated at between 260,000 and 290,000 ounces of gold, according to its financial report released on Thursday, February 5.
Although this figure is significantly lower than the mine’s production peak of around 720,000 ounces in 2024, the asset remains strategically important for both Barrick and the Malian government, which holds a 20% stake in the project.
Estimates suggest that 2026 production, amid record-high gold prices, could generate revenues of at least $1.5 billion, making it a major source of tax income for Bamako. This comes at a time when reviving the gold sector is considered vital following a sharp decline in output last year.
Barrick Gold and the Malian government reached a comprehensive agreement in December that resolved their dispute over the deposits. Discussions are currently ongoing regarding a ten-year renewal of the Loulo mining license, one of the complex’s key sites, ahead of the current permit’s expiration at the end of February.
