Mali's Mining Dispute: ICSID Rejects Barrick's Request for Expedited Arbitration
The International Centre for Settlement of Investment Disputes (ICSID) rejected Barrick Mining's request to expedite arbitration proceedings against Mali. The dispute centers around a new mining code that raises taxes. Barrick launched arbitration after suspending operations due to government actions at its Loulo-Gounkoto complex.
In a significant development, Barrick Mining's attempt to fast-track its arbitration case against the government of Mali has been dismissed by the International Centre for Settlement of Investment Disputes (ICSID), according to sources close to the matter.
The ongoing tensions between Barrick and Mali escalated after the introduction of a controversial mining code in 2023, which increases taxes and enhances governmental control over gold mines. As a response, Barrick initiated arbitration through ICSID in December 2024.
The mining giant's plea for urgent resolution included addressing the detention of four employees, the management appointment for Loulo-Gounkoto following their operational halt, and concerns over the Loulo mine's licensing expiration. However, Barrick's request was turned down, leaving the dispute unresolved.
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