Barrick to Pay Mali $430 Million to Settle Gold Mine Dispute

Barrick Mining Corp. has agreed to a 244 billion CFA francs ($430 million) settlement with Mali, as part of a deal to end a two-year dispute that shuttered one of the company’s most important gold operations, according to people familiar with the matter.

Under the settlement, Barrick is due to pay 144 billion CFA francs within six days of signing the agreement with Mali’s government, the people said, asking not to be identified because the matter is private. Another 50 billion CFA francs will come via VAT-credit offsets, while an installment of the same size was already paid last year, the people said.