Barrick Mining Shuts Operations in Mali, Laying Off Over 600 Workers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy B?
Source: seekingalpha
- Layoffs and Shutdown: Barrick Mining's largest contractor, Gounkoto Mining Services, is shutting down operations at the Loulo-Gounkoto gold complex in Mali, resulting in over 600 layoffs, highlighting the sluggish production and investment in the region.
- Contract Non-Renewal: Barrick does not plan to renew its contract with Gounkoto Mining Services in 2026, and it remains unclear whether it will extend for 2027, which could impact the ongoing operations and production capacity of the gold mine.
- Declining Output: The Loulo-Gounkoto gold mine produced 80,000 ounces of gold in Q1 2026 and is projected to produce 103,000 ounces in Q2, which, while an increase, still falls below average output levels prior to the standoff, reflecting challenges in production efficiency.
- Unrelated Security Threats: The departure of Gounkoto Mining Services is reportedly unconnected to the security threats facing Mali, as recent attacks occurred far from the mining complex, indicating relative stability in mining operations.
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Analyst Views on B
Wall Street analysts forecast B stock price to rise
17 Analyst Rating
15 Buy
2 Hold
0 Sell
Strong Buy
Current: 41.840
Low
44.31
Averages
58.14
High
71.00
Current: 41.840
Low
44.31
Averages
58.14
High
71.00
About B
Barrick Mining Corporation is a gold and copper producer, which is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are located in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, over 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located approximately 350 km north-east of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Layoffs and Shutdown: Barrick Mining's largest contractor, Gounkoto Mining Services, is shutting down operations at the Loulo-Gounkoto gold complex in Mali, resulting in over 600 layoffs, highlighting the sluggish production and investment in the region.
- Contract Non-Renewal: Barrick does not plan to renew its contract with Gounkoto Mining Services in 2026, and it remains unclear whether it will extend for 2027, which could impact the ongoing operations and production capacity of the gold mine.
- Declining Output: The Loulo-Gounkoto gold mine produced 80,000 ounces of gold in Q1 2026 and is projected to produce 103,000 ounces in Q2, which, while an increase, still falls below average output levels prior to the standoff, reflecting challenges in production efficiency.
- Unrelated Security Threats: The departure of Gounkoto Mining Services is reportedly unconnected to the security threats facing Mali, as recent attacks occurred far from the mining complex, indicating relative stability in mining operations.
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