(Reuters) In order to resolve a nearly two-year-old conflict over its mining assets in the West African nation, Canadian miner Barrick Gold has struck a new deal with the Malian government, two people familiar with the matter told Reuters on Wednesday.
The sources told Reuters that once Barrick signed the deal, the Mali government must now formally approve it. As early as Thursday, an official announcement might be made.
In exchange for the release of detained workers, confiscated gold, and the resumption of operations at the Loulo-Gounkoto mine, Barrick has agreed to pay the Mali government 275 billion CFA, or $438 million.
A Reuters email inquiry was not answered by Barrick. Mali’s mining ministry official chose not to comment.
Since 2023, the Toronto-based miner and Mali have been embroiled in a conflict over the West African nation’s new mining code, which grants the Mali government a larger stake in the nation’s gold mine.
(Divya Rajagopal, Giulia Paravicini, and Portia Crowe reported; Silvia Aloisi edited.)
