A Malian judge ordered the return to the Canadian mining company Barrick Mining of 3 tonnes of gold seized almost a year ago in its Loulo-Gounkoto complex, according to two people familiar with the matter.
The gold, worth around $400 million, was seized by a military helicopter in January following a confiscation order issued by a Malian judge.
The precious metals have since remained at the BMS bank in Bamako, the capital of Mali, according to the two sources, which indicates Barrick will be responsible for transporting the gold out of the bank's coffers.
The two sides reached an agreement last month to resolve their dispute over the mining company's activities in the West African country, after two years of negotiations.
The disagreement focused on the implementation of a new mining code introduced by the military government; This led Barrick to suspend activities at its gold mining complex in January, and a provisional administrator appointed by a Malian court to take control in June.
Barrick has agreed to a $430 million settlement and the interim administration is expected to return control of the mining complex to Barrick next week, according to sources cited by Reuters.
