Barrick Gold (ABX.TO) remains committed to its long-term partnership with Mali and is prepared to resume operations at its Loulo-Gounkoto mine as soon as gold shipments are allowed, CEO Mark Bristow said on Wednesday.

Despite a temporary pause in mining activities due to a regulatory dispute, Barrick remains optimistic about the future, reaffirming its confidence in the West African nation’s mining sector. 

The Toronto-based gold giant has received assurances from Malian authorities that the $245 million worth of seized gold still belongs to the company, paving the way for a resolution.

Bristow emphasized the company’s significant contributions to Mali’s economy, noting that Barrick paid $460 million to the government last year and would have contributed approximately $550 million in 2024 had operations not been interrupted. The company remains a key investor in the country and is eager to resume full production, benefiting both Barrick and Mali’s treasury.

“We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government," Bristow said.

Meanwhile, Barrick is enjoying strong financial performance, reporting a surge in 2024 profits driven by rising gold prices. The company’s stock climbed over 7% on Wednesday following the earnings report, and Barrick announced a $1 billion share buyback, further signaling confidence in its growth strategy.

Although the temporary suspension in Mali has led to a revised gold output forecast of 3.2–3.5 million ounces this year—down from 3.9 million ounces in 2024—Barrick remains focused on long-term success in the region. With ongoing discussions with Malian authorities and a clear commitment to resuming operations, the company is positioning itself for a strong comeback.