Barrick contractor exits Mali, leaving more than 600 workers without jobs

Mali’s gold sector is facing renewed pressure after a major contractor at Barrick Mining’s Loulo-Gounkoto mining complex moved to end its operations, a decision expected to cost more than 600 workers their jobs and raise fresh concerns about the future of one of Africa’s most important gold assets. 

The move comes at a difficult time for Mali, where gold remains a cornerstone of the economy, supporting export earnings, government revenue and thousands of livelihoods. Any disruption at a mine as large as Loulo-Gounkoto is felt far beyond the site itself, touching businesses, workers and communities that depend on mining activity. 

For investors across Africa’s mining industry, the latest development is another sign that operating in resource-rich markets can come with costly setbacks.

Questions are growing over how quickly production can recover, whether fresh capital will be committed and what the long-term outlook holds for one of West Africa’s leading gold producers. 

At the heart of the issue is a mine complex that has long been seen as one of Mali’s crown jewels.

But after months of disputes over taxes, ownership and operational control, Loulo-Gounkoto is still working to regain its footing, with output well below historical levels.

Production remains under pressure 

Sources familiar with operations say production at Loulo-Gounkoto remains weak even after Barrick regained control of the complex late last year.

The mine produced about 80,000 ounces of gold in the first quarter of 2026 and is projected to produce roughly 103,000 ounces in the second quarter, still far below levels seen before the dispute. 

That shortfall matters. Mali’s gold output dropped sharply last year, largely because of the mine’s suspension, highlighting how closely the country’s economic health is tied to steady production from large-scale mining operations.

Contractor exit deepens uncertainty 

The departure of Gounkoto Mining Services, a key contractor responsible for extraction work, adds another layer of uncertainty.

More than 600 workers have received termination notices, a development that reflects both reduced activity at the complex and the strain placed on operations during the prolonged disruption. 

Sources say limited reinvestment, delayed maintenance and aging equipment have also weighed on the mine’s recovery, slowing efforts to restore normal operations at key sites within the complex.

Hope for a gradual recovery 

There are early signs conditions could improve in the months ahead.

Industry sources say investment is expected to increase later this year, while expatriate workers who left during the dispute are set to return as maintenance and operational work picks up. 

For Mali, a stable recovery at Loulo-Gounkoto is more than a mining story.

It is closely tied to jobs, export income and confidence in a sector that remains central to the country’s economic future.