Malian Judge Orders Return of Seized Gold to Barrick Mining

A Malian judge has ordered the return of 3 metric tons of gold, worth about $400 million, to Barrick Mining after it was seized from their Loulo-Gounkoto complex nearly a year ago. An agreement was reached to resolve a dispute over a new mining code, leading to the return of control to Barrick.

A Malian judge has mandated the return of 3 metric tons of gold, valued at approximately $400 million, to Barrick Mining. This gold, seized nearly a year ago from the Canadian miner's Loulo-Gounkoto complex, was taken by a military helicopter following a judge's order.

The gold has been stored at the BMS bank in Mali's capital, Bamako. While the judge has ordered its return to Barrick, the company is tasked with arranging the transportation out of the bank vaults.

The resolution comes after two years of negotiations over a dispute involving a new mining code introduced by Mali's military-led government. Barrick had suspended operations, but upon reaching a $430 million settlement, control will revert to the company next week, and the international arbitration case against Mali has been dropped.

(With inputs from agencies.)