Barrick Gold ramping up production at Malian complex

Photo: Barrick

African investment Barrick Gold has announced the Loulo-Goun-koto gold complex in Mali is on track to meet its annual production guidance, with anew underground mine at Gounkoto gradually in-creasing production.

Loulo-Gounkoto is expected to remain a significant contributor to the country’s economy well into the future, as it continues to replace the ore that was depleted by mining, according to Mark Bristow, Barrick’s president and chief executive.

“Loulo-Gounkoto is one of the world’s greatest gold mining operations and it continues to confirm its status as a member of the industry’s elite Tier One1 club as well as the largest private sector contributor to Mali’s GDP,” Bristow said, as quoted in a statement.

“Through successful exploration it is on track to increase mineral re-serves net of depletion for the third successive year and promising results from the Yalea Ridge and Gounkoto-Faraba targets reaffirm the potential for further life-of-mine extensions,” the company said.