Barrick Niugini Limited Challenges Non-Extension of Special Mining Lease
Gold.com, Inc. (GOLD)
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Source: GlobeNewswire
PORT MORESBY, Papua New Guinea, April 24, 2020 (GLOBE NEWSWIRE) -- Barrick Niugini Limited (BNL), majority owner and operator of the Porgera gold mine in the Enga province of Papua New Guinea (PNG), said today the Government’s decision not to extend its Special Mining Lease was tantamount to nationalisation without due process and in violation of the Government’s legal obligations to BNL. BNL said it remained willing to discuss the issue with Prime Minister James Marape and his Government in the hope of averting what it described as a catastrophic situation for the communities at Porgera and in Enga, and for the country as a whole. It will, however, pursue all legal avenues to challenge the Government’s decision and to recover any damages that BNL may suffer as a result of the Government’s decision. It also said it had no interest in discussing transitional arrangements for the management of the mine, as proposed by the Government, as this was not consistent with BNL’s rights. BNL
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