Barrick Gold Fails To Resolve Disputes With Mali Govt. Over Loulo-Gounkoto Complex

(RTTNews) - Barrick Gold Corp. (GOLD) Monday reported crisis in solving disputes with Mali Government regarding Loulo-Gounkoto complex, one of the nation's largest taxpayers and employers.

The mining company argued that the Government, a minority shareholder, receives the majority of economic benefits generated by the Loulo-Gounkoto complex.

Barrick has earlier requested the Government for an increased share of the benefits, and concessions under the Memorandum of Agreement, which was rejected by the Government.

Further, the situation has worsened with employees getting imprisoned without cause and shipments blocked, prompting the company to suspend operations.

During the pre-market hours, Barrick's stock is trading at $16.80, up 0.12 percent on the New York Stock Exchange.