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Investing.com -- Loulo-Gounkoto complex in Mali, seized from Barrick Gold in February, is restarting operations after a nearly six-month suspension, with the court-appointed administrator planning to sell one metric ton of gold from the site’s storeroom, according to a Reuters report on Tuesday.
Mining operations at the complex were temporarily halted in January after the Malian government seized gold stocks from the site. The complex previously accounted for 15% of gold output from Barrick Gold (NYSE:B).
Former health minister Soumana Makadji, who was appointed as temporary administrator last month, has reportedly enlisted Samba Toure to help with operations. Toure is the chairman of the state mining company and a former Loulo-Gounkoto executive.
The plant began operating on Monday for the first time since January, the report said.
Mark Bristow, Barrick’s CEO, stated that the company had received only informal information about the restart and gold shipment. "If it is true, any plans by the administrator to restart operations and sell gold on the site in our view would be illegitimate," Bristow told Reuters.