Barrick Mining reaches deal with Mali gold unions, averting strike, Bloomberg reports

By Reuters News

Sept 27 (Reuters) - Canada's Barrick Mining ABX.TO has reached an agreement with unions representing workers at its Loulo-Gounkoto gold mine in western Mali, Bloomberg News reported on Sunday, citing Abdoulaye Coulibaly of Mali's National Workers' Union.

"The strike threat has been resolved," Coulibaly said, according to the Bloomberg report. Coulibaly added that the agreement involved workers at Food & Events Africa, Somilo SA and Gounkoto SA.

Reuters could not immediately verify the report. Barrick Mining did not immediately respond to a Reuters request for comment outside regular business hours. The union could not immediately be reached for comment.

Earlier this month, unions representing Barrick Mining's gold workers said they would begin strike action towards the end of September if demands related to overtime pay, reimbursement of mission expenses and implementation of labour agreements were not met.

Separate strike notices were also submitted by Barrick's catering and support staff contractor Food & Events Africa as well as workers in Mali's mining regulator and other mining administration agencies.

Mali, one of Africa's leading gold producers, resolved a dispute with Barrick in November last year over profit-sharing and control of the Loulo-Gounkoto gold mining complex after two years of negotiations.

The military-led government has tightened its grip on the mining sector under a 2023 mining code aimed at boosting state revenues from the country's natural resources.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.