Barrick Gold is under pressure again

The share of Barrick Gold, the world’s second largest gold producer, has suffered in the past few days. The paper – like most other stocks of gold producers – came under pressure. For one thing, consolidation was technically overdue. On the other hand, the somewhat weaker gold price has weighed on paper in recent weeks. In addition, the dispute over the Porgera mine in Papua New Guinea has still not been resolved. He even goes to the next round.

 

A Problem with Licenses

A court in Papua New Guinea has now given Barrick Gold the go-ahead to have another court examine whether the government has followed due process by refusing not to renew the license to operate the Porgera gold mine. The trial is scheduled for July 20, Barrick CEO Mark Bristow told Bloomberg news agency.Referring to a Friday report that the Papua New Guinea mining regulator is considering criminal proceedings against allegations of illegal exports, Bristow said the joint venture “categorically rejects any allegation that it or its representatives are in any way violating the law “The alleged joint venture is said to have applied to export gold to the Perth Mint in Australia.