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Barrick accepts reduced ownership stake in deal to restart Papua New Guinea gold mine


Barrick Gold logo is seen during the company s annual general meeting in Toronto on Tuesday, April 28, 2015. THE CANADIAN PRESS/Nathan Denette
CALGARY Barrick Gold Corp. says its suspended gold mine in Papua New Guinea will resume operations later this year after negotiations to settle a bitter dispute with the national government resulted in the state taking a much larger ownership stake.
The Porgera gold mine was suspended last April when the government refused to renew the special mining lease for operator Barrick Niugini Ltd., a 50-50 joint venture owned by Toronto-based Barrick and China s Zijin Mining Group Ltd.
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Papua New Guinea , Mark Bristow , James Marape , Barrick Niugini Ltd , China Zijin Mining Group Ltd , Barrick Gold Corp , Barrick Gold , Toronto Based Barrick , Zijin Mining Group , Minister James Marape , Canadian Press , Business Finance , பப்புவா புதியது கினியா , குறி பிரிஸ்டோ , பாரிக் நியுகினி லிமிடெட் , பாரிக் தங்கம் கார்ப் , பாரிக் தங்கம் , டொராண்டோ அடிப்படையிலானது பாரிக் , கனடியன் ப்ரெஸ் ,

Barrick strikes profit-sharing deal with Papau New Guinea; sets stage to reopen Porgera mine


Profit-sharing deal with Barrick gives Papua New Guinea majority stake in Porgera gold mine
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Barrick Gold Corp. has agreed to a profit-sharing agreement with the Papua New Guinea (PNG) government for its Porgera gold mine that sees it making major concessions in return for being able to restart operations after a year-long shutdown.
Under the provisional pact announced on Friday, PNG’s ownership will rise to 51 per cent from 5 per cent. Barrick and China’s Zijin Mining Group, which previously had a combined 95-per-cent stake, will see their shares fall to a combined 49 per cent. ....

Papua New Guinea , James Marape , China Zijin Mining Group , Barrick Gold Corp , Barrick Gold , Zijin Mining Group , Toronto Based Barrick , பப்புவா புதியது கினியா , பாரிக் தங்கம் கார்ப் , பாரிக் தங்கம் , டொராண்டோ அடிப்படையிலானது பாரிக் ,