The move hands control of Canada’s biggest operation to state-appointed management and is seen as a major escalation in an ongoing dispute between the company and Mali’s military rulers.
Barrick Gold has been in conflict with the administration over alleged unpaid taxes and unfair contracts with past governments.
Monday’s decision comes after Mali closed Barrick’s offices in the capital Bamako and warned it would take control of the mine, which has been shuttered owing to the months-long dispute.
The dispute culminated in an arrest warrant in December 2024 for Barrick CEO Mark Bristow and the company’s offer to pay $370 million to the government.
Barrick submitted a request for arbitration to the International Centre for Settlement of Investment Disputes to address disagreement with Mali.
Despite this, the government took a series of escalatory measures, including the arrest of Barrick Gold employees, who remain detained, and the suspension of gold exports.
The Canadian company says it will appeal Monday’s court decision, which risks deterring future mining investment in the country.
Mali is one of Africa’s leading gold producers, but has struggled for years with jihadi violence and high levels of poverty and hunger.
When the military seized power in 2020, it placed foreign mining companies under growing pressure as it seeks to shore up revenue.
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