◢ AFRI M INTEL · decision layer
The decision view
Loulo-Gounkoto
West Africa Birimian · Au · Barrick (80%) / State of Mali (20%)
dossier-grade producing governance change resolved
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Hand-maintained under the contract suite (generator retired 7 Sep 2026) · dataset see manifest · record reviewed 2026-05-02 · machine-readable: /api/v1/deposits/loulo-gounkoto.json · ⎙ print / save as PDF · interactive worked example →
Stage and status DFI · investment house — what stage is the asset at, and what does its record hold?
Life-cycle stage producing Derived
Operating status Restored — gradual restart phase post-Dec 2025 settlement Sourced
Reserve scale (P+P) 57 Mt @ 3.99 g/t Au Sourced ≈ 7.3 Moz contained Derived
Reserve basis (verbatim) 100% project basis (Barrick 80% share = 7.3 Moz at 4.02 g/t)
Value anchors advisory · corporate development — what does the record support?
Resource (M+I+I) 77.2 Mt @ 4.23 g/t Au Sourced
Resource basis (verbatim) 100% project basis
Primary source Barrick Annual Information Form 2025 (released March 2026); Mali Settlement Decree Feb 2026 [Sourced 2026-05-02] Sourced
Comparables (Au-matched) 5 African M&A — $122–228/oz (set span, n=2) · 2 intl — $394–403/oz (set span, n=2) · 1 financing/benchmark — set spans, not market curves · deals · compare assets · data freshness Sourced Risk read mining major · insurer — what is the exposure?
Ownership structure 80/20 maintained per Nov 2025 settlement (Mali 2023 Mining Code allowed up to 35% but settlement preserved 80/20 + $430M cash + tranched royalty escalation) Sourced
Recent events (record, newest last — tail shown) … Panamá cited by analysts); revised royalty 9-12% blended (gold-price tranched) under 2023 code; 2026 guidance 260-290 koz attributable (gradual restart); 3 t gold seized then returned via fair-value increment adjustment Sourced
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