Barrick Mining Corp. has reached a settlement with the Malian government, ending a two-year dispute that halted operations at its Loulo-Gounkoto gold complex and weighed on investor confidence, Bloomberg reported.

The company’s shares jumped 8.2 percent on Monday in New York to 39.54 US dollars, the highest level since October 2012.

Under the agreement, Barrick will regain operational control of Loulo-Gounkoto, withdraw arbitration claims, and accept Mali’s 2023 mining code, which increases the state’s royalty and ownership stakes. Mali, in turn, will drop legal charges against the company and release four employees detained during the dispute. The Loulo permit, previously set to expire in February, has been renewed for ten years.

Finance Minister Alousséni Sanou said Mali expects to receive around 90 billion CFA francs (159 million US dollars) in annual dividends, in addition to royalties and equity stakes under the revised code. Loulo-Gounkoto produced 723,000 ounces of gold last year, representing nearly 18 percent of Barrick’s global output.

The settlement removes a major operational and political obstacle that had prevented Barrick from fully benefiting from record bullion prices. Analysts say the resolution could boost investor confidence and narrow Barrick’s valuation gap with peers.

Interim chief executive Mark Hill has signalled a renewed focus on North American assets, including the Nevada Gold Mines and the Pueblo Viejo operation in the Dominican Republic, while exploring options to restructure the company.