An ongoing dispute over ownership stakes in Barrick’s operation in Mali has led to the arrest of mining officials, the government’s gold seizure and the company’s shutdown of its mine.

Mali's military government is holding gold seized from Barrick Gold's Loulo-Gounkoto mine site at state-owned Banque Malienne de Solidarite (BMS), two sources said, as the miner pursues plans to suspend its operations in the country.

"Barrick Gold suspends operations in Mali after $245m gold seizure" was originally created and published by Mining Technology, a GlobalData owned brand.

Canada’s Barrick Gold has suspended operations in Mali after the government seized gold from the company in an escalation of a dispute between the military junta and international mining groups.

Canada's Barrick Gold on Tuesday confirmed it had suspended operations in Mali and that the government had moved gold stock from the miner's Loulo-Gounkoto site to a bank. Reuters reported on Monday that the authorities had seized gold worth $245 million in an escalation of their long-running dispute with the company.

Mali’s military government has started seizing gold stocks of the Canadian mining company Barrick as part of a legal battle over the share of revenue owed to the West African state, according to an internal Barrick letter seen by The Associated Press.

Barrick Gold Corp. closed C$6.81 below its 52-week high of C$29.50, which the company achieved on October 21st.

Mali's government has begun enforcing a provisional order to seize gold stock at Barrick Gold's Loulo-Gounkoto site, the Canadian miner said in a note to Malian staff, warning again that it may have to suspend operations at the complex.