Barrick Gold deal doesn’t harm Dominican interests: Mines chief
Santo Domingo.- Energyand Mines minister Antonio Isa Conde on Tuesday said Barrick Gold´s deal withRoyal Gold doesn’t compromise the country’s interests or involves a commitmentwith the mine at Pueblo Viejo (central).
Isa Conde said he transactioninvolves Barrick Gold´s future sale of certain amounts of gold and silver to asubsidiary of Royal Gold and the delivery of the metals will occur once PuebloViejo Dominicana Corporation pay all taxes to the Dominica Republic and theamounts corresponding to their funding agreements.
He noted however thatBarrick Gold sold a portion of gold futures from the production it controls,using as reference the price of the metal produced in Pueblo Viejo, but withoutcompromising the Dominican State´s stake.
"The transactionannounced by Barrick Pueblo Viejo affects neither Barrick´s percentage in that companynor its status as operator of the Pueblo Viejo mine," Isa said.