Story
Barrick Reaches Agreement With Mali Unions, Averting Strikes at Loulo-Gounkoto Mine
Summary
Barrick Gold Corp. has secured a deal with labor unions at its Loulo-Gounkoto gold mine in Mali, successfully preventing planned work stoppages that were set to begin this week.
Barrick Gold Corp. (NYSE:GOLD) has reached an agreement with unions at its Loulo-Gounkoto mining complex in western Mali, averting strikes that were scheduled to begin on Monday. The resolution was confirmed by Abdoulaye Coulibaly of Mali’s National Workers’ Union (UNTM), according to a Bloomberg report.
Strike Details and Resolution
Unions representing workers at the Somilo SA and Gounkoto SA operations had threatened a four-day walkout from September 28 to October 1. A separate five-day work stoppage, from September 28 to October 2, was called by unions for catering contractor Food & Events Africa.
The disputes centered on several key issues, including:
- Overtime pay
- Reimbursements for mission expenses
- Implementation of existing labor agreements
- Worker benefits and welfare
AdCoulibaly told Bloomberg that the strike has been resolved, ensuring continued operations at the key facility.
Context: A Key Asset for Barrick
The Loulo-Gounkoto complex is a significant contributor to Barrick's portfolio, having produced approximately 190,000 ounces of gold in the first half of 2026. Maintaining operational stability at the site is crucial for the company's production targets.
The successful labor negotiation follows a period of significant tension between Barrick and Mali's government. Operations were restored after a November 2025 settlement that saw Barrick pay the government $430 million and agree to the country's new 2023 mining code. In return, the government dropped charges, released detained staff, and ended a period of provisional state administration over the mine that began in June 2025. Following the settlement, Mali renewed the Loulo mining permit for 10 years in February 2026, providing a more stable long-term operational outlook.
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