French-mining contractor pulls out of Mali’s largest gold mine as over 600 jobs come under threat

According to Reuters, the contractor, Gounkoto Mining Services (GMS), will not have its agreement renewed by Barrick Mining in 2026, following months of tensions between the Canadian mining giant and the Malian government over taxes, ownership, and operational control.

GMS, a mining services contractor linked to France-based Bouygues Construction through DTP Mining, has been responsible for extraction activities at Mali’s Gounkoto open-pit mine and the Yalea North mine.

The company has reportedly issued termination notices to more than 600 employees, sources familiar with the matter told Reuters, with affected workers currently serving notice periods after undergoing mandatory medical examinations.

Neither the Gounkoto nor Yalea North operations have fully resumed production since Barrick regained control of the complex from provisional Malian administrators in December after a prolonged standoff with the state.

Located in western Mali, the Loulo-Gounkoto gold complex is the country’s largest gold producer and one of Barrick Gold’s most profitable assets, generating about $900 million in revenue in 2024.

Despite this, the complex remains one of Africa’s most important gold-producing assets, highlighting its strategic value to both the company and the Malian state.

Barrick has reportedly lowered its 2026 production expectations for the complex and excluded the Gounkoto mine from parts of its operational planning for the year.

The complex produced about 80,000 ounces of gold in the first quarter of 2026 and is projected to produce 103,000 ounces in the second quarter, according to Reuters.

While production has improved since the period of provisional administration, the figures remain well below historical averages before the dispute erupted.

A spokesperson for Mali’s mines ministry described the contractor’s exit as an “internal problem,” while Barrick and GMS’ parent company DTP did not immediately comment on the development.