Canadian miner Barrick Gold has reached a new agreement with the Malian Government, potentially resolving a nearly two-year-old dispute over mining operations in the West African nation, reported Reuters,

Canadian miner Barrick Gold has signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets in the West African country, four people familiar with the developments told Reuters on Wednesday.

Barrick Gold (NYSE: GOLD) (TSX: ABX) has signed a new agreement with the Malian government to end the dispute over its mining assets in the West African country, Reuters reported, citing four people familiar with the matter. According to the news agency, the deal is pending formal approval from Mali’s government.

Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow told Reuters on Wednesday.

Mali and Barrick Gold Corp.’s negotiations to end a protracted dispute over payments from the country’s biggest gold mine have been suspended, according to people familiar with the government’s position.

The head of Barrick Gold Corp. says he’s confident that a resolution will be reached between his company and the Malian government, currently embroiled in a dispute over revenue distribution from one of the largest gold mines in Africa.

Barrick Gold (NYSE:GOLD) +3.2% in Wednesday's trading to its highest in more than two months following a Reuters report that the miner has signed a new agreement with Mali's government, which would end the dispute over the company's mining assets in the country.

Canadian miner Barrick Gold has signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets in the West African country, two people familiar with the developments told Reuters on Wednesday.