Barrick Gold (NYSE: GOLD) (TSX: ABX) has signed a new agreement with the Malian government to end the dispute over its mining assets in the West African country, Reuters reported, citing four people familiar with the matter.
According to the news agency, the deal is pending formal approval from Mali’s government.
As part of the agreement, Barrick will pay a total of 275 billion CFA ($438 million) to the Malian government in exchange for the release of detained employees, the return of seized gold, and the resumption of operations at the Loulo-Gounkoto mine.
Barrick did not immediately respond to an email query from MINING.COM.
Shares of the gold miner were trading down 0.45% Thursday afternoon in Toronto at C$26.60 ($18.75), giving the company a market capitalization of C$40.60 billion ($28.61 billion).
Last week, Barrick said it was considering placing its suspended Loulo-Gounkoto mine in Mali…
