Barrick weighs legal action against Papua New Guinea after refusal to renew mining lease for Porgera mine [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Barrick weighs legal action against Papua New Guinea after refusal to renew mining lease for Porgera mine A view of tailings at Barrick Gold Corp.'s Porgera mine, in Papua New Guinea on Dec. 4, 2017. Catherine Coumans/MiningWatch Canada A view of tailings at Barrick Gold Corp.'s Porgera mine, in Papua New Guinea on Dec. 4, 2017. Barrick Gold Corp. is considering legal action against Papua New Guinea after its government sought control of the Porgera mine and refused to renew Barrick’s mining lease, citing environmental infractions. Located in the remote highlands of the South Pacific country, Porgera is a joint venture between Barrick, China’s Zijin Mining Group and the Papua New Guinea government. In a statement on Friday, Barrick said that Papua New Guinea’s move to seize control of Porgera was “tantamount to nationalization,“ and “in violation of the government’s legal obligations.” The Toronto-based miner said it intends to “pursue all legal avenues” to challenge the decision.
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