28.7 C
Port Moresby
September 26, 2021
Highlands News News Bulletin

Barrick Seeks International Relief

In its bid to have the Porgera Special Mining Lease extended, operator of the Porgera Gold Mine, Barrick Niugini has now sought international help at the World Banks’s International Centre for Settlement of Investment Disputes to settle its dispute with the PNG government.

According to Barrick, its latest action to initiate conciliation proceedings before the ICSID does not displace the judicial review proceedings that are pending before the PNG courts.

The conciliation proceeding however seeks to reach an agreement for the extension of the Porgera SML on what Barrick says will be mutually beneficial to both the company and PNG stakeholders.

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