Barrick is offering the government of Papua New Guinea to pause legal proceedings upon signing of a framework agreement to reverse the decision not to grant it a licence renewal for its former Porgera mine.
Canada’s Barrick Gold said it would challenge the Papua New Guinea government alleged move to grant a 20-year lease for the Porgera gold mine to a state-backed firm.
Canadian miner Barrick Gold Corp said it served a dispute notice to the Papua New Guinea government over the country’s refusal to extend a mining lease in the Porgera valley.