A significant shift is underway in the negotiations between Barrick Mining and the Malian government, following the recent appointment of Hilaire Diarra, a former Barrick executive, as a special adviser to Mali’s president. Diarra, who previously served as the general manager of Barrick’s Tongon Gold Mine in Ivory Coast, is now positioned at the forefront of the government’s mining strategy, a development confirmed by a mines ministry official.
In late August, a decree appointing Diarra was made public, signaling a potential realignment of allegiances in the ongoing discussions involving Barrick’s control over the Loulo-Gounkoto gold mining complex. This complex has emerged as a focal point in the broader context of resource nationalism, with West African military governments seeking greater control over their valuable resources, particularly gold and uranium.
Negotiations between Barrick and the Malian government have been ongoing since 2023, primarily focused on a new mining code that increases taxes and modifies the government’s share in gold mining operations. The situation has escalated as the Malian government has enlisted the help of former Barrick executives to bolster its negotiating position.
The Loulo-Gounkoto site is particularly noteworthy, as it produced 578,000 ounces of gold in 2024. However, the site has faced significant operational challenges since a provisional administrator was appointed by the Malian courts in June. This move came after Barrick suspended its operations due to a stalemate in negotiations, with the provisional administrator now managing the site. Reports indicate that the site has sold approximately 1 metric ton of gold since the administrator’s appointment, yet current production is operating at about 25% of normal output.
Diarra’s journey back to Mali—from negotiating on behalf of Barrick to stepping into a key advisory role for the government—highlights the complex interplay of corporate interests and national policies in the mining sector. His prior experience at the Loulo mine positions him as a knowledgeable asset for the Malian president amid these pivotal negotiations.
