Barrick and Mali’s military rulers are locked in a standoff over the distribution of revenue from the Loulo-Gounkoto mine complex.

A new mining law in Mali that raises taxes and seeks to hand over big stakes in assets to the state and local investors will need to be loosened up if gold companies are to invest in new projects there,

Barrick Gold CEO Mark Bristow said the company is "making progress" in its dispute with Mali's government, but the advances have not come as fast as expected.

Barrick Gold Corp. and Mali are set to resume talks on resolving a months-long dispute over the distribution of revenue from one of the world’s biggest gold mines.

Two former company executives with inside knowledge of Barrick Gold's operations in West Africa are helping to drive Mali's demands for a payment of around $200 million from the Canadian miner, according to people familiar with the talks.

Mali's new new mining law that raises taxes and seeks to hand over large stakes in assets to the state must be reviewed before gold companies invest in new projects there.

Barrick Gold Corp. Chief Executive Officer Mark Bristow said the company is “making progress” in its dispute with Mali’s military regime, but the advances haven’t come as fast as expected.