Loading ...Barrick Gold Corp on Thursday estimated a 10.8% drop in third-quarter gold production as the miner’s Porgera project in Papua New Guinea remained shut during the period.
The Toronto-based miner stopped production at Porgera after Papua New Guinea’s government refused to extend the mine’s lease in April because of community unrest and pollution concerns. The production halt also forced it to cut its full-year attributable gold production forecast in May.
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Earlier in the day, Papua New Guinea and Barrick agreed in principle over Porgera, with Barrick Niugini Ltd set to remain operator of the project.
Barrick Niugini Ltd is a joint venture between Barrick and China’s Zijin Mining Group.
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