Enga Province

Barrick Serves Notice of Dispute Over Porgera

Retrieved on: 
Friday, July 10, 2020
Enga Province, Porgera Gold Mine, Barrick Gold, Mining, Barrick, ABX, Organizations, International Centre for Settlement of Investment Disputes, Companies

TORONTO, July 10, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced that its subsidiary, Barrick (PD) Australia Pty Limited (Barrick PD), an investor in the Porgera Mine, has given notice to Papua New Guinea (PNG) that a dispute has arisen under the Bilateral Investment Treaty (BIT) between PNG and Australia.

Key Points: 
  • TORONTO, July 10, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced that its subsidiary, Barrick (PD) Australia Pty Limited (Barrick PD), an investor in the Porgera Mine, has given notice to Papua New Guinea (PNG) that a dispute has arisen under the Bilateral Investment Treaty (BIT) between PNG and Australia.
  • Barrick PD asserts that the dispute arises out of the PNG Governments decision not to extend the Porgera Special Mining Lease (SML) in violation of the terms of the BIT and international law governing foreign investment.
  • If the dispute cannot be resolved through consultations and negotiations, Barrick PD has elected to refer the dispute to arbitration before the World Banks International Centre for Settlement of Investment Disputes (ICSID).
  • Barrick further notes that Barrick Niugini Ltd, the joint venture between Barrick PD and a subsidiary of Zijin Mining Group Ltd, has also announced the commencement of conciliation proceedings against PNG before ICSID, see http://www.porgerajv.com/Company/Media/Press-Release .

Barrick (Niugini) Limited donates K100,000 to the 2019 PNG Medical Symposium

Retrieved on: 
Wednesday, August 14, 2019
Enga Province, Landforms, Geography of Papua New Guinea, Highlands Region, Provinces of Papua New Guinea, Barrick Gold, Porgera Gold Mine, Porgera, Papua New Guinea, Strickland River, Laiagam

PORT MORESBY, Papua New Guinea, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Barrick (Niugini) Limited, the majority owner and operator of the Porgera Mine in Papua New Guinea, has donated K100,000 to the 2019 PNG Medical Symposium.

Key Points: 
  • PORT MORESBY, Papua New Guinea, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Barrick (Niugini) Limited, the majority owner and operator of the Porgera Mine in Papua New Guinea, has donated K100,000 to the 2019 PNG Medical Symposium.
  • Lee noted that the Porgera Mine has a long-standing record of supporting healthcare near the Porgera Mine in the Enga Province through funding and infrastructural development.
  • We are pleased to now extend our support to the broader Papua New Guinea health sector through our Gold Sponsorship of the 2019 PNG Medical Symposium, the theme of which is Health Education.
  • We applaud National Planning Minister Richard Maru and President of the PNG Medical Society Professor Nakapi Tefuarani for their efforts in hosting the 2019 PNG Medical Symposium, which we know will provide all participants with valuable insights and ideas to further develop health education in Papua New Guinea.