Newmont Mining Corp. said on Monday it has resolved all disputes relating to its Uzbekistan joint venture, whose gold and some assets were seized last year by the government.

Denver-based Newmont said in a joint statement with Uzbekistan’s state-owned Navoi Mining and Metallurgical Combinat (NGMK) and the State Committee for Geology and Mineral Resources (Goskomgeologia) that it reached a "full and final resolution" of all disputed issues over the Zarafshan-Newmont Joint Venture (ZNJV).

It gave no details, but earlier this month, in a filing with the US Securities and Exchange Commission, the world’s second-largest gold company said it would receive $80 million as part of the settlement. Newmont will transfer its stake in the venture to Uzbekistan.

The company had already written off the value of its stake last September.

The agreement, signed on June 30, terminates all arbitration and results in the transfer to the Uzbek parties of interests in the ZNJV belonging to Newmont and its subsidiaries, Monday’s statement said.

"The parties are pleased we were able to reach an amicable and durable agreement," said the Uzbekistan parties and Newmont. "Through good-faith negotiations, we resolved this matter and produced a settlement that addresses the needs of each party in the dispute."

A year ago, Uzbek authorities seized gold and some assets belonging to the venture and launched two tax claims for payments it said were due between 2002 and 2005.

Last October, an Uzbek court declared the Newmont gold venture bankrupt after seizing $49 million in taxes. It also appointed a local official to run the venture.

Newmont said in its SEC filing that none of the parties admitted liability in connection with any of the matters in the dispute.