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.

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.

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.

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

Barrick Gold (GOLD) stock is seeing a barrage of options activity after the company suspended operations in Mali

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.

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.