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.

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 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 Corp. and Mali are set to resume talks on resolving a monthslong dispute over the distribution of revenue from one of the world’s biggest gold mines.

Barrick Gold CEO 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. The Canadian company last month suspended operations at the vast Loulo-Gounkoto complex in Mali after the government started removing gold from the nation’s biggest mine in the latest escalation of a months-long dispute.