Barrick Gold (GOLD) said Tuesday it is urging the Government of Mali to finalize a previously negotiated agreement to resolve ongoing disputes.
The Toronto-based miner said it has engaged in "good faith" to conclude an agreement accepted by Mali's Ministry of Finance in February, adding that it paid $85 million last October as part of a broader framework aimed at a comprehensive resolution.
Despite Barrick's efforts to reach a constructive solution, the government has escalated tensions by detaining employees, halting gold exports, and threatening its Loulo-Gounkoto mine operations, the company said.
Barrick said it is ready to resume operations and boost national revenue but is prepared to pursue legal action if the agreement isn't honored.
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