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.

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.

Canadian miner Barrick Gold said it will have to suspend mining operations in Mali after the government seized gold stocks from the company's Loulo-Gounkoto complex and flew them out by helicopter over the weekend.

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 suspends mining operations in Mali after government seizes gold stocks from Loulo-Gounkoto complex and flew them out by helicopter over the weekend.

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 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.