Barrick contractor to exit Mali, lay off more than 600 people, sources say

Barrick Mining’s largest contractor at the Loulo-Gounkoto gold complex in Mali is exiting, with Gounkoto Mining Services issuing termination letters to over 600 workers and operations idled at Gounkoto and Yalea North. Barrick has lowered 2026 production plans for the complex and excluded the Gounkoto mine from this year’s targets. The complex produced about 80,000 ounces in Q1 2026 and is projected to produce 103,000 ounces in Q2 — still below pre-dispute averages — while Mali’s national gold output fell 23% last year. Operational disruptions and reduced output from a major African gold mine tighten near-term supply and could be supportive for gold prices, though resumption at other pits and expected investment later in the year temper the outlook.