Market Maker Journal
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Market Maker Journal
No Result
View All Result

Barrick Mulls Canadian Exit as Mali Gold Tensions Escalate

admin by admin
July 17, 2025
in Investing
0
Barrick Mulls Canadian Exit as Mali Gold Tensions Escalate

Major miner Barrick Mining (TSX:ABX,NYSE:B) is reportedly in advanced talks to sell its last remaining Canadian mine, Hemlo, to Discovery Silver (TSX:DSV,OTCQX:DSVSF).

Citing people familiar with the matter, Bloomberg reported on Tuesday (July 15) that the discussions, which began in April, have reached the final stages, although a deal has not yet been finalized.

If completed, the sale of the Ontario-based asset would mark Barrick’s full exit from gold mining in its home country, continuing a broader strategy of offloading smaller, less profitable assets as gold re-enters the spotlight.

Gold has climbed to record highs this year, reaching the US$3,500 per ounce level as geopolitical shocks — including US President Donald Trump’s tariff campaign and ongoing global conflicts — have driven investors toward safe havens.

That rally has reignited consolidation in the mining sector, with large producers like Barrick and Newmont (TSX:NGT,NYSE:NEM) streamlining their portfolios and junior miners seeking to grow.

Discovery Silver has emerged as an active buyer during this time.

In January, the company acquired Newmont’s Porcupine gold mine in Ontario for up to US$425 million. Buying Hemlo would deepen its footprint in Canada at a time when investor interest in North American assets is rising.

Mali seizes more gold from Barrick

For Barrick, the possible sale comes as the company faces legal and political headwinds in Mali, where its Loulo-Gounkoto complex has been embroiled in a bitter standoff with the ruling military junta.

On July 10, helicopters operated by Mali’s military landed unannounced at the Loulo-Gounkoto site and removed over a metric ton of gold — worth over US$117 million at current prices — without Barrick’s consent. The gold was likely taken for sale by the government-appointed provisional administrator that now oversees the site, the company said.

This is the second such seizure this year, following a January incident in which 3 metric tons of gold were taken and all exports were blocked, forcing Barrick to suspend operations.

Barrick has since launched international arbitration proceedings at the International Center for Settlement of Investment Disputes (ICSID), citing “violations of its legal rights.”

“I want to reaffirm Barrick’s commitment to Mali, even as we navigate extraordinary and unprecedented challenges,” CEO Mark Bristow said on July 12. “While we continue to engage constructively with the government of Mali, the ICSID process provides the legal certainty and international oversight necessary to resolve this dispute definitively.”

Barrick maintains that the provisional administration of the mine, which came after a controversial local court order in June, is unlawful. The firm also says it was never formally notified of the administrator’s appointment and was merely told that Samba Touré, a former Barrick employee and advisor to the mining ministry, would act as a liaison.

The government’s moves coincide with President Assimi Goïta’s latest political maneuver — a new law granting him an indefinite mandate “until the country is pacified.” Goïta seized power in a 2021 coup, his second in less than a year, and has since tightened control over the judiciary and state institutions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Previous Post

Jerome Powell asks inspector general to review Fed’s $2.5B renovation project

Next Post

5 Best-performing Gold Stocks on the TSX in 2025

Next Post
5 Best-performing Gold Stocks on the TSX in 2025

5 Best-performing Gold Stocks on the TSX in 2025

  • Trending
  • Comments
  • Latest
Trump’s Fed Criticism Sparks Investor Concerns

Trump’s Fed Criticism Sparks Investor Concerns

April 23, 2025
Fed’s Stagflation Warning Impacts Crypto Markets

Fed’s Stagflation Warning Impacts Crypto Markets

April 22, 2025
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 23, 2025
Gold Price Surge Hits $3,385 Amid Trade Tensions

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 22, 2025
Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

0
Stock Market News UK Update: FTSE 100 & 250 Rise

Stock Market News UK Update: FTSE 100 & 250 Rise

0
Stock Market News UK Update: FTSE 100 & 250 Rise

Stock Market News UK Update: FTSE 100 & 250 Rise

0
Stock Market News UK Update: FTSE 100 & 250 Rise

Stock Market News UK Update: FTSE 100 & 250 Rise

0
Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

July 18, 2025
PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

July 18, 2025
State Department says US ‘unequivocally condemns’ Israeli airstrike in Syria, calls for ‘dialogue’

State Department says US ‘unequivocally condemns’ Israeli airstrike in Syria, calls for ‘dialogue’

July 18, 2025
Senators push back against Vought’s call for more partisan spending process

Senators push back against Vought’s call for more partisan spending process

July 18, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent News

    Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

    Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

    July 18, 2025
    PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

    PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

    July 18, 2025
    State Department says US ‘unequivocally condemns’ Israeli airstrike in Syria, calls for ‘dialogue’

    State Department says US ‘unequivocally condemns’ Israeli airstrike in Syria, calls for ‘dialogue’

    July 18, 2025
    Senators push back against Vought’s call for more partisan spending process

    Senators push back against Vought’s call for more partisan spending process

    July 18, 2025

    Top News

    Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

    Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

    July 18, 2025
    PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

    PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing

    July 18, 2025

    Latest News

    • Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps
    • PETA applauds GOP lawmakers’ demand to halt NIH funding for ‘cruel’ overseas animal testing
    • State Department says US ‘unequivocally condemns’ Israeli airstrike in Syria, calls for ‘dialogue’

    About Market Maker Journal

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 marketmakerjournal.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 marketmakerjournal.com | All Rights Reserved