Canadian miner Barrick Gold's negotiations with the Malian government have been suspended without reaching an agreement to end the dispute over payments, Bloomberg News reported on Tuesday, citing people familiar with the government's position.

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.

Mali is asking for a single payment of 125 billion CFA francs ($197m), while Barrick is proposing a payment plan distributed over time.

The ongoing negotiations between the government of Mali and Canada's Barrick Gold Corp. (NYSE:GOLD) over payments from the nation's largest gold mine have been put on hold, according to Bloomberg report on Tuesday.