Barrick contractor GMS to exit Mali and cut 600 jobs
GMS is exiting Mali and laying off 600 workers at the Loulo-Gounkoto complex. The move follows sluggish output and a previous ownership standoff with the state.
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Gounkoto Mining Services will exit Mali and lay off more than 600 workers as Barrick Mining cuts exposure to high-risk assets. The miner regained control after a tax and ownership dispute. Production at the Loulo-Gounkoto complex fell 23% nationally last year.
The standoff between Barrick and Malian authorities left the Gounkoto and Yalea North mines idle. Barrick does not plan to renew its contract with contractor Gounkoto Mining Services (GMS) in 2026, people familiar with the matter said. GMS issued termination letters to more than 600 employees.
