UK-based gold producer Endeavour Mining and Lilium Mining, which is a subsidiary of Lilium Capital, created by US-Burkinabe billionaire Simon Tiemtore, have settled their legal dispute over the sale of two gold mines in Africa after several agreements were signed with Burkinabe Minister of Economy Aboubakar Nacanabo.

The conflict began when Lilium acquired the mines in June last year. Endeavour claimed Lilium missed payments exceeding $100 million, while Lilium accused Endeavour of misrepresenting the mines’ financial and operational status.

As part of the settlement, Burkina Faso will pay Endeavour $60 million and a 3% royalty on up to 400,000 ounces of gold produced at the Wahgnion mine. Both companies will cease their ongoing legal proceedings in London.