TORONTO, Jan 27 (Reuters) - Mali's government and

Barrick Gold ( GOLD ) will start a new round of negotiations on

Tuesday to resolve a deepening dispute over the alleged

nonpayment of taxes by the Canadian miner and the seizure of its

gold stocks by authorities in the country, two sources familiar

with the matter told Reuters.

Barrick, the world's second largest gold miner by

production, has temporarily suspended its mining operations in

Mali after the government seized close to 3 metric tons of gold,

worth $250 million from the company's Loulo-Gounkoto complex.

Shares of Barrick were trading down by 2% at the Toronto

Stock Exchange at 1700 GMT.

Barrick declined to comment and the Mali government did not

respond to requests for comment by Reuters.

Governments in Mali, Burkina Faso and Niger -- all led by

juntas -- are all seeking to renegotiate new terms with gold

miners to gain a bigger share of mining revenue at a time when

gold prices have hit record highs.

The dispute between Mali and Barrick is over the country's

new mining code that came into effect in 2023. The mining code

gives the state a bigger share of mining revenues and removes

tax exemptions for mining companies.

The new round of negotiations will be around the tax

payments, Barrick's agreeing to the new mining code and the

release of the seized gold, according to people aware of the

development who did not wish to be quoted as they are not

authorized to speak about the issue.

Mali had previously demanded about $500 million in unpaid

taxes from Barrick, sources told Reuters. Mali has also issued

an arrest warrant against Mark Bristow, CEO of Barrick Gold ( GOLD ).

Barrick denies any wrongdoing.

Jefferies analysts have estimated that suspending production

at the mine could cut Barrick's earnings before interest, tax

and amortization by 11% in 2025.