- Write by:
-
Wednesday, May 20, 2020 - 4:14:52 PM
-
914 Visit
-
Print
Mining News Pro - A Papua New Guinea court is set to rule next month on whether Barrick Gold Corp can proceed with a legal challenge over the government’s refusal to extend its lease on the Porgera gold mine, the head of the country’s mining regulator said.
Papua New Guinea (PNG) said last month it would take control of the lucrative but troubled mine in the remote highlands region, citing environmental and social problems.
Barrick, which operates the mine in a joint venture with China’s Zijin Mining, suspended operations and launched a court challenge to the decision, vowing to pursue “all legal avenues” for recourse.
PNG’s National Court is considering whether to allow the case to proceed.
“The court case went through all the substantive matters. They reserved the decision for June 3rd,” Jerry Garry, head of the country’s Mineral Resources Authority told Reuters.
It was not clear whether a refusal to allow the challenge to go ahead would exhaust Barrick’s legal avenues.
Barrick (Niugini) Ltd, which manages the joint venture with Zijin directed Reuters to the company’s external lawyer, Derek Wood, who had no immediate comment on the matter.
Human rights organisations and some locals have advocated for the mine’s closure due to social unrest and pollution.
Barrick has said the move by the government is tantamount to nationalisation and that it has always abided by the country’s environmental regulations.
The miner cut its 2020 production guidance after encountering conflict with the government of Papua New Guinea.
The world’s second-largest gold producer now expects to produce between 4.6 million and 5 million ounces of gold this year — 200,000 ounces lower than its previous estimate.
Short Link:
https://www.miningnews.ir/En/News/533238
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
No comments have been posted yet ...