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.

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,

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.

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.

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.