Barrick Gold Corp. - President & CEO, Mark Bristow
President & CEO, Mark Bristow
Source: Breakingviews
  • Barrick Gold (ABX) says its Loulo-Gounkoto mining complex has not been affected by the recent military coup in Mali, West Africa
  • The complex has an adequate inventory for its foreseeable requirements, and is currently continuing operations as normal
  • Political tensions in the country began reached a peak on Tuesday after soldiers detained President Ibrahim Boubacar Keïta
  • Roscan Gold (TSXV:ROS) also said that there has been no material impact to its operations in the west of the country
  • Barrick Gold (ABX) is currently down 3.28 per cent to C$38.29 per share, while Roscan Gold (ROS) is up 5.26 per cent to $0.40 per share at 2:33pm EDT

Barrick Gold (ABX) says its Loulo-Gounkoto mining complex has not been affected by the recent military coup in Mali, West Africa.

The complex, located near the country’s border with Senegal, currently has adequate inventory supplies for its foreseeable requirements and the company’s management is taking steps to secure its supply chains.

While Loulo-Gounkoto and its operations are progressing as normal, Barrick said it is monitoring the situation closely in consultation with local stakeholders.

Political tensions in Mali peaked on Tuesday after soldiers detained the country’s President, Ibrahim Boubacar Keïta, and Prime Minister, Boubou Cissé.

Keïta won a second term in the 2018 elections, but there have been a number of large protests in recent months over perceived corruption and economic mismanagement.

The two political figures are currently detained in a military camp near the capital Bamako, and Keïta said in a televised address that he would dissolve the government.

“I want no blood to be spilled to keep me in power,” he added.

Toronto-based Roscan Gold (TSXV:ROS) also issued a release today, noting that there has not yet been any material impact on its operations.

Nana Sangmuah, President and CEO of Roscan Gold, said the company’s current exploration campaign is continuing with no disruptions to date.

“We cannot stress that our top priority is the health and safety of our employees, their families and the local communities near where we work in West Mali,” he added.

Barrick Gold (ABX) is currently down 3.28 per cent and is trading at C$38.29 per share.

Meanwhile, Roscan Gold (ROS) is up 5.26 per cent and is trading at $0.40 per share at 2:33pm EDT.

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