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,

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.

The negotiations will focus on Mali's demand for $199m (CFA Fr125.15bn), compliance with the new mining code and the release of the seized gold.

Mali's government and Barrick Gold will engage in negotiations over tax disputes and gold seizure. The discussions follow allegations of unpaid taxes and government confiscation of gold stocks. The 2023 mining code revision is central to the talks,

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