Loading ...Barrick Gold escalates dispute with PNG over Porgera mine
Canada’s Barrick Gold (TSX: ABX) (NYSE: GOLD) has served a dispute notice to the Papua New Guinea (PNG) government over the country’s refusal to renew a licence for Porgera mine.
The world’s second-largest gold producer argues that PNG’s decision to reject the application for the lease extension violated a bilateral investment treaty between the country and Australia, as well as international law governing foreign investment.
Barrick and its Chinese partner, Zijin Mining, temporarily halted operations at the mine in Enga Province late in April. The move followed Prime Minister James Marape’s refusal to renew Porgera’s permit on environmental and social concerns.
THE ONGOING DISPUTE WITH PNG OVER PORGERA MINE HAS DONE WHAT THE PANDEMIC DID NOT — DENT BARRICK’S EXPECTED OUTPUT FOR THE YEAR
The Toronto-based miner noted such rejection was publicly announced without notifying the mine manager, Barrick Niugini Limited, or following appropriate processes.
more https://www.mining.com/barrick-gold-escalates-dispute-with-png-over-porgera-mine/