04:44 PM EDT, 10/24/2024 (MT Newswires) -- Barrick Gold ( GOLD ) edged down in after-hours New York trading after the company on Thursday afternoon denied allegations from the Malian Ministry of Mines and the Finance Ministry that the company failed to fulfill its commitments under an agreement for fair mineral resource distribution.

On Sept. 30, Barrick and the government agreed on a framework to negotiate a resolution to their disputes. Since then, Barrick has been working with the government to settle these issues, with terms set to be in a memorandum of agreement. Barrick also paid the government about US$85 million as part of the ongoing negotiations.

"While Barrick does not accept any claims of wrongdoing, it has chosen to act in good faith as a long-standing partner of Mali, aiming to resolve outstanding disputes through this memorandum of agreement," the company said.

The company said its goal is to resolve differences and establish guiding principles for Barrick's future partnership with the government, including increasing the state's share of benefits from the Loulo-Gounkoto complex.

Barrick shares were last seen down US$0.01 to US$20.32 after hours. They closed down $0.62 to $28.15 on the Toronto Stock Exchange.