Jan 14 (Reuters) -

Canada's Barrick Gold ( 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.

Reuters reported on Monday that the authorities had seized

gold worth $245 million in an escalation of their long-running

dispute with the company.

"As a result, Barrick has regrettably initiated the

temporary suspension of operations while it continues to work

towards a resolution," it said in a statement.

Barrick did not say what amount of gold had been seized.

Malian officials did not reply to requests for immediate

comment.