Business
Barrick fighting PNG move to grant Porgera lease to state-backed miner – MINING.com
Barrick will challenge Marape’s government reported move to grant a 20-year lease for Porgera to state-owned Kumul Minerals Holdings.
The companies temporarily halted operations in response. They also served Marape with a dispute notice arguing the refusal of the Porgera license extension violated a bilateral investment treaty between PNG and Australia. The move, they said, also infringed international law governing foreign investment.
Barrick said at the time that if the parties were unable to settle the row through negotiations, it would take PNG to international arbitration.
Barrick Niugini Limited (BNL), Porgeras operato…
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