Barrick Gold Corporation has halted its operations in Mali after the government seized gold stocks worth $245 million Cdn from the company's Loulo-Gounkoto complex.

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.

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 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.

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.

Fresh inflation data looks to keep the Fed on hold this month — but it should curb any talk of potential rate hikes, experts say.

Barrick Gold faces turmoil in Mali as government reportedly executes a provisional order to seize gold stockpiles, threatening operations at Loulo-Gounkoto mine.

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.

In reaction to a protracted war with the army administration of Mali over alleged unpaid taxes, the Canadian mining firm Barrick Gold has annou

Malian authorities have confiscated about 3 metric tons of gold from Barrick Gold's Loulo-Gounkoto mining site due to an ongoing dispute. The gold, valued at $245 million, is now held at Banque Malienne de Solidarite.