Barrick Gold (GOLD) announced it will be forced to suspend mining operations in Mali following the government’s seizure of gold stocks from its Loulo-Gounkoto complex, Portia Crowe, Divya Rajagopal, David Lewis and Giulia Paravicini of Reuters reported. Approximately three metric tons of gold were removed from the mining site in western Mali over and transported by helicopter over the weekend, according to sources. The estimated value of the gold was reportedly $245M. In a letter addressed to the Malian government, Barrick stated that the seizure leaves the company with no choice but to temporarily halt operations at the Loulo and Gounkoto mines.
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