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Loulo-Gounkoto gold complex expansion, Mali

14th May 2021

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Loulo-Gounkoto gold complex expansion.

Location
Western Mali.

Project Owner/s
Société des Mines de Loulo SA (Loulo) owns the Loulo gold mine, and Société des Mines de Gounkoto (Gounkoto) owns the Gounkoto gold mine. Loulo and Gounkoto are owned by Barrick (80%), and the Mali government (20%).

Project Description
The Loulo-Gounkoto complex comprises two distinct mining permits – Loulo and Gounkoto. Together, the permits contain 6.7-million ounces of proven and probable reserves. Measured and indicated gold resources, including reserves, total nine-million ounces and inferred resources two-million ounces.

A prefeasibility study has started on two more mines on the Loulo permit – an underground operation at Loulo 3 and a large openpit at Yalea South. These will add mining sources and improve feed flexibility, providing further support for the complex’s ten-year plan.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Barrick Gold investor and media relations, Kathy du Plessis, tel +44 20 7557 7738
Email: barrick@dpapr.com.

Edited by Creamer Media Reporter

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