Barrick Mining ABX-T and Mali’s government have reached a verbal agreement in principle to resolve their dispute over the Loulo-Gounkoto gold mining complex, two sources familiar with the situation told Reuters on Friday.

No agreement has yet been signed, the sources said. A spokesperson for Barrick Mining did not immediately respond to a request for comment. A spokesperson for Mali’s mines ministry said negotiations were progressing well but did not provide further details.

The two sides have been in a dispute since 2023 over the implementation of a new Mali mining code that raises taxes and gives the government a greater share of gold mines. They met for talks on Friday, a week after Barrick’s interim CEO Mark Hill wrote a letter to Mali’s administration asking to restart negotiati

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