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.

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. The Toronto and New York-listed company said in a statement that it had “regrettably initiated the temporary suspension of operations” at its Loulo-Gounkoto mining complex in the west African country.