Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick's Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick's original proposals, will be made public once the terms of the settlement have been finalized.

Barrick president and chief executive Mark Bristow said the company's mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved.

"The current negotiations have proved challenging but we're encouraged by the government's recognition of the importance of securing the long-term viability of the Loulo-Gounkoto complex as a substantial contributor to the Malian economy. We look forward to working with the government to normalize our long-standing partnership." Bristow said.