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.

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 monthslong dispute over the distribution of revenue from one of the world’s biggest gold mines.

A former employee of Randgold and co-founder of the consultancy Iventus Mining, Mamou Touré plays a key role in renegotiating Mali’s mining contracts. This go-between is at the centre of a stand-off pitting his country against multinationals – Barrick Gold chief among them.

Mali's military-led government is in a complex negotiation with Barrick Gold over $199 million in back taxes. With influential negotiators Mamou and Samba Toure, Mali has demanded payment before returning seized gold and releasing detained executives.

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