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Company News

Barrick Gold sends dispute notice to Papua New Guinea over Porgera Mine

July 10 (Reuters) - Canadian miner Barrick Gold Corp said on Friday its subsidiary, Barrick (PD) Australia Pty Limited, an investor in the Porgera Mine, has given notice to Papua New Guinea (PNG) that a dispute has arisen under the bilateral investment treaty (BIT) between PNG and Australia.

Barrick PD said the dispute arises out of the PNG Government’s decision not to extend the Porgera special mining lease (SML) in violation of the terms of the treaty and international law governing foreign investment. (Reporting by Shradha Singh in Bengaluru; Editing by Ramakrishnan M.)

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