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 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.

BARRICK Gold was “making progress” in its dispute with Mali following recent allegations about unpaid tax, but not as quickly as expected, said Bloomberg News. “Mali has got itself in a position where it is really trying to shake out some short-term cash out of the industry,

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.

Two former company executives with inside knowledge of Barrick Gold's operations in West Africa are helping to drive Mali's demands for a payment of around $200 million from the Canadian miner, according to people familiar with the talks.

The Malian government’s overhaul of its extraction industry risks deterring companies from investing in the nation that’s home to the world’s second-largest gold mine, according to Anglo American CEO Duncan Wanblad.

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 months-long dispute over the distribution of revenue from one of the world’s biggest gold mines.

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