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BRIEF-Barrick Serves Notice Of Dispute Over Porgera

Published 2020-07-10, 06:07 a/m
© Reuters.
GOLD
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July 10 (Reuters) - Barrick Gold Corp ABX.TO :

* BARRICK SERVES NOTICE OF DISPUTE OVER PORGERA

* BARRICK GOLD CORP - BARRICK PD ASSERTS THAT DISPUTE ARISES OUT OF PNG GOVERNMENT'S DECISION NOT TO EXTEND PORGERA SPECIAL MINING LEASE (SML) IN VIOLATION OF TERMS OF BIT AND INTERNATIONAL LAW GOVERNING FOREIGN INVESTMENT

* BARRICK GOLD CORP - BARRICK PD, AS AN INVESTOR, SEEKS TO RECOVER DAMAGES IT HAS ALREADY SUFFERED AND DAMAGES IT MAY SUFFER IN FUTURE BY VIRTUE OF PNG'S WRONGFUL REFUSAL TO GRANT AN EXTENSION OF PORGERA SML

* BARRICK GOLD - BARRICK NIUGINI ANNOUNCED COMMENCEMENT OF CONCILIATION PROCEEDINGS AGAINST PNG BEFORE ICSID

* BARRICK GOLD - CONTINUES TO ADVOCATE FOR A NEGOTIATED SOLUTION TO AN EXTENSION OF PORGERA MINING LEASE ON TERMS BENEFICIAL TO STAKEHOLDERS

* BARRICK GOLD - IF DISPUTE CANNOT BE RESOLVED THROUGH CONSULTATIONS & NEGOTIATIONS, BARRICK PD HAS ELECTED TO REFER DISPUTE TO ARBITRATION BEFORE ICSID

* BARRICK GOLD - BARRICK PD GIVEN NOTICE TO PAPUA NEW GUINEA (PNG) THAT A DISPUTE HAS ARISEN UNDER BILATERAL INVESTMENT TREATY BETWEEN PNG & AUSTRALIA

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