Back to today’s briefing

Story perspectives

Barrick Rejects GMS Contract, 600 Workers Terminated

5/8/2026

41 4 Full Breakdown

Summary

Story summary

Barrick Gold refused to renew its 2026 contract with Gounkoto Mining Services (GMS), leading GMS to issue termination notices to over 600 workers after mandatory medical exams.
Barrick has regained control of the Gounkoto and Yalea North mines, but neither has resumed production.
The Loulo-Gounkoto complex produced about 80,000 ounces in Q1 2026, 103,000 ounces in Q2, earned $900 million in 2024, and Mali’s gold output fell 23% in 2025.

1 of 1

Story summary

Barrick Gold refused to renew its 2026 contract with Gounkoto Mining Services (GMS), leading GMS to issue termination notices to over 600 workers after mandatory medical exams.
Barrick has regained control of the Gounkoto and Yalea North mines, but neither has resumed production.
The Loulo-Gounkoto complex produced about 80,000 ounces in Q1 2026, 103,000 ounces in Q2, earned $900 million in 2024, and Mali’s gold output fell 23% in 2025.