Monitors display Barrick Gold Corp. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Jan. 2, 2019. Photo by Michael Nagle/Bloomberg

Barrick Mining Corp. shares fell after the Toronto-headquartered miner posted a net charge of US$1.04 billion related to the seizure of its vast Loulo-Gounkoto gold complex by Mali’s military junta.

The loss was due to “the deconsolidation of Loulo-Gounkoto following the change of control,” the company said in a second-quarter earnings report on Monday. The impact on earnings was partly offset by a gain of US$745 million on the sale of its 50 per cent interest in the Donlin Gold project in Alaska.

Barrick’s woes in Mali escalated in June when a court ruled that management of one of the miner’s biggest operations should be

See Full Page