
Barrick Gold Corp (ABX.TO) has confirmed the suspension of its mining operations in Mali after the government seized gold from the company’s Loulo-Gounkoto site and transferred it to a bank.
The move follows a longstanding dispute between the Canadian mining giant and Malian authorities. According to reports, the seized gold is valued at approximately $245 million, though Barrick has not disclosed the exact amount taken.
“In light of recent developments, Barrick has regrettably initiated a temporary suspension of operations while continuing efforts to resolve the matter,” the company stated.
Malian government officials have not yet responded to requests for comment.