Barrick Gold Alleged For Attempting to Illegal Gold Exports
The Barrick Gold joint venture company contested the claim that the company had sought permission to export gold.
SEATTLE (Scrap Monster): The Papua New Guinea (PNG) mining regulator announced that it plans to initiate criminal proceedings against Barrick Gold, alleging that the company’s joint venture in the country had attempted to illegally export nearly $13 million worth of gold and silver to Australia. According to the regulator, it received a request from the company seeking export clearance.
The PNG Mineral Resources Authority (MRA) noted that the move to ship precious metals to the Perth Mint is illegal, as it is not legally entitled to process or ship gold, since the government had refused to extend the mining lease for Porgera mine.
The Barrick Gold joint venture company contested the claim that the company had sought permission to export gold. Further, it noted that the company’s joint venture with Chinese Zijin Mining Group has always complied with all legal obligations with regards to exports of gold and silver.
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The latest move by the country’s mining regulator is feared to jeopardize the already strained relations between the two parties.
Meantime, the National Court in Waigani ruling on Friday has granted leave to Barrick Gold, allowing it to apply for judicial review of the National Executive Council (NEC) decision not to renew its lease reviewed.
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