Barrick Gold, Dominican Government poised for showdown
Santo Domingo.- Seven Barrick Gold Corp. executives arrivedat Las Americas Airport from the U.S. on Monday, as the Government retains athird a gold shipment in as many months to press talks for a new contract.
A sourceclose to the negotiations between the Canadian miner and the Government wasquoted by eldia.com.do as saying that Barrick could notify its decision to takethe case to international arbitration.
It waslearned that though the notification wouldn’t halt the talks with Dominicanauthorities, it would advance the arbitration if a deal isn’t reached.
A shipmentof 1,264 ounces of gold and silver bars bound for Canada was retained by Customsat Las Americas on May 1.
Barrick Goldsenior executives Calvin Francis Pon, John Lawson Thornton, Alann HjordisHeath, Derek Hudson Burney, Kelvin Paul Michel Dushnisky, Andrew lloyd andCurtis Arthur Johnson arrived noon Monday on a private jet from Denver,Colorado.
Customs accusesBarrick Gold of "constant irregularities" on export forms, but in astatement the Canadian company said that "all documentation for shipmentsmade to date has been inspected and approved" by Customs.
Presidency chiefof staff Gustavo Montalvo last week revealed that a "final offer" wasalready sent to the company to renegotiate the contract. “In any given scenariothe Government will receive retroactive compensation payable to the country formineral exports."
It was alsoreported that the Government hired a company to assess Barrick Gold’sinvestment, and found a “sizeable” difference with the Canadian miner’s figures.