Local April 4, 2013 | 7:39 am

Barrick Gold pact ‘very close to be announced’, Dominican mogul says

Santo Domingo.- Former American Chamber of Commerce president Julio Brache revealed Wednesday that an agreement between the Government and Barrick Gold Corp. in the conflict over contract benefits from the gold mine at Pueblo Viejo, Cotuí, is "very close to be announced."

Brache urged both parties to reach an agreement because it’s preferable to "having problems in court."

"It’s better to agree than having problems in court…It is best to reach an amicable agreement between both parties. I believe that the agreement is very close to being announced," the business leader said.

Brache also noted that the facts have shown that the standoff hasn’t affected foreign investment in the country, because after that, many foreign companies have stated an interest in developing various projects in the Dominican Republic. "That’s because there’s a good investment climate and ensured legal security in the country." He added that he’s upbeat on the country’s future investment climate and economic stability.

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