Mali Extends Barrick Gold License for Another Decade

West Africa WeeklyFebruary 16, 20261 Mins read25

Mali’s government has renewed the mining license for a major gold operation run by Barrick Gold, securing another decade of production at one of the country’s most important mining sites.

The extension covers the Loulo gold complex, a flagship project that has played a central role in Mali’s mining industry for years. Gold is the country’s top export and a crucial source of government revenue, making decisions around mining licenses highly significant for the national economy.

The renewal comes at a time when Mali’s military-led government is reviewing contracts and pushing for greater benefits from natural resource projects. Several mining agreements have been renegotiated in recent years as authorities seek higher revenues and stronger local participation.

Despite these policy shifts, the decision to extend Barrick’s license signals that the government still sees value in maintaining partnerships with major international mining firms. The Loulo complex is one of the largest gold operations in the country and employs thousands of workers directly and indirectly.

Mining accounts for a large share of Mali’s export earnings, and gold production has helped sustain the economy even as the country faces security challenges and political uncertainty.

Officials say the license extension will ensure continued production, protect jobs, and provide steady revenue for the state. It also sends a message to investors that the country remains open to long-term mining projects, provided they align with national interests.

Industry analysts say the decision reflects a balancing act. On one hand, Mali wants to assert greater control over its natural resources. On the other hand, it still depends on foreign expertise, investment, and technology to develop large-scale mining operations.

The extension is expected to keep the Loulo complex operating at full capacity for years to come. For Mali, the deal offers economic stability at a time when the government is navigating both political transition and security pressures.