Post #142

World Bank Won’t Fast-Track Barrick vs. Mali The World Bank’s arbitration court has rejected Barrick’s bid to fast-track its case against Mali, according to Reuters. ⏩The refusal to expedite Barrick’s request suggests Mali’s legal position may be strong in its dispute with one of the world’s largest gold miners.⏪ 🔸The dispute stems from the introduction of the new Mining Code in 2023, which implied a renegotiation of mining terms. After both sides failed to reach agreement, Barrick filed for arbitration in December 2024. 🔸 In mid-2025, a Malian court placed Barrick’s Loulo-Gounkoto complex under provisional administration. The administrator oversaw a restart of the operation, with underground blasting resuming on October 15, 2025. However, Barrick was not the only company that had to renegotiate 🔸 Because the new code applied to all miners, other foreign operators also had to reach agreements with Bamako, and seven other less prideful miners - including Allied Gold, B2Gold, Resolute Mining, and Ganfeng Lithium - have successfully concluded new terms. 🔸 Bamako’s decision to assume control followed Barrick’s own suspension of operations, which left deposits idle when gold prices were near record highs. In this case Mali is defending the unalienable right of a state to set the rules and make business obey by them. Otherwise, the World Bank would have long ruled out in favor of Barrick. Devils Below