Resolution in Mali Lifts Cloud Over Barrick Gold

Shares of the Canadian gold mining giant Barrick Gold demonstrated significant strength on Monday. This rally followed the confirmed release over the weekend of four company employees who had been detained in Mali. The resolution of this months-long dispute removes a major overhang for the company, arriving at an opportune moment with gold prices trading at record levels above $4,200 per ounce.

The immediate catalyst for the positive market reaction was the final settlement reached with Mali’s transitional government. While a framework agreement was announced on November 24th, investor sentiment remained cautious until the physical release of the personnel was confirmed on Saturday.

As part of the resolution, Read more...