| Papua New Guinea court to rule on Barrick mine challenge in June | |
| | |
|
MELBOURNE, May 19 (Reuters) - A Papua New Guinea court is set to rule next month on whether Barrick Gold Corp can proceed with a legal challenge over the government's refusal to extend its lease on the Porgera gold mine, the head of the country's mining regulator said. Papua New Guinea (PNG) said last month it would take control of the lucrative but troubled mine in the remote highlands region, citing environmental and social problems. Barrick, which operates the mine in a joint venture with China's Zijin Mining, suspended operations and launched a court challenge to the decision, vowing to pursue "all legal avenues" for recourse. PNG's National Court is considering whether to allow the case to proceed. "The court case went through all the substantive matters. They reserved the decision for June 3rd," Jerry Garry, head of the country's Mineral Resources Authority told Reuters. It was not clear whether a refusal to allow the challenge to go ahead would exhaust Barrick's legal avenues. Barrick (Niugini) Ltd, which manages the joint venture with Zijin directed Reuters to the company's external lawyer, Derek Wood, who had no immediate comment on the matter. Human rights organisations and some locals have advocated for the mine's closure due to social unrest and pollution. Barrick has said the move by the government is tantamount to nationalisation and that it has always abided by the country's environmental regulations. (Reporting by Melanie Burton in Melbourne and Tom Westbrook in Singapore; editing by Richard Pullin) |
|
Read the rest of the article at
https:
|
Zijin Mining Group Co.
|
|
PRODUCER |
CODE : 2899.HK |
ISIN : CNE100000502 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Zijin Mining is a gold producing company based in China. Zijin Mining holds various exploration projects in China and in Peru. Its main asset in production is JILAU GOLD MINE in Tajikistan, its main asset in development is SHUIYINDONG in China and its main exploration properties are QUINGHAI, JINSHANGOU and ZIJINSHAND in China. Zijin Mining is listed in Germany, in Hong Kong and in United States of America. Its market capitalisation is 336.5 billions as of today (US$ 55.1 billions, € 48.3 billions). Its stock quote reached its lowest recent point on June 28, 2013 at 1.23, and its highest recent level on March 28, 2024 at 15.62. Zijin Mining has 21 540 741 120 shares outstanding. |