Barrick Gold Corp has lost a court challenge in Papua New Guinea over rights to a highlands gold mine and intends to appeal to the country’s Supreme Court.
Canada’s Barrick Gold said it would challenge the Papua New Guinea government alleged move to grant a 20-year lease for the Porgera gold mine to a state-backed firm.
Canadian miner Barrick Gold Corp said it served a dispute notice to the Papua New Guinea government over the country’s refusal to extend a mining lease in the Porgera valley.
The claims had arisen out of certain measures taken by Poland, allegedly in breach of the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty.
Global companies are positioning themselves to use little-known rules in trade agreements to claim millions of dollars in compensation for restrictions imposed during the pandemic.
As ministers of the member countries of the RCEP meet for final negotiations over the trade agreement this week, regional lawmakers today expressed concern about the lack of parliamentary and public oversight of the deal, as well as its potential human rights impacts.
Australian mining company Indiana Resources has become the second company in a week to declare a dispute with the Tanzanian government over repossessed retention licences.