Unfinished business

The Barrick Gold issue



Everyone is happy about the big agreement of the Dominican government  with Barrick Gold related to Pueblo Viejo Gold mine in Cotui, but there are certain issues not finished yet..
 In a press conference after a meeting of several hours between senior officials and Barrick Gold executives in the National Palace, the government announced the pact to amend the contract, to be submitted to Congress as soon as possible.

 Among other points, the agreement will raise Government revenue by more than US$1.5 billion over the project's duration, in addition to the US$10.0 billion projected in March 2013, and raises the profit split from 37.1% to 51.3 % for the country, and lowers Barrick’s from 62.9% to 48.7%

Everything looks clear in the agreement..except for a couple of things:

• We haven't seen a dime yet..

• We haven't get clear what is going to happens with the millions in fines of BG that they already owe to the Dominican state.. ..

• 
  Do BG have any plan to employ Dominican people instead of bringing more peruvians?

• What is going to happens with the cyanide and mercury? How are they going to clean that mess?

• What is going to happens with the crops of cocoa beans, coffee beans and fishing infrastructure that we had before..?   Any reforestation plans either?

• Did anybody realize that we are pushing for more marginality of Dominican people by allowing the eviction of 600 families?

• So far, instead of bringing prosperity to Cotui area, BG only brought misery , illness, cyanide, evictions, and poverty..
  What the government, in charge of protecting its people ,is going to do about it?

• Is there any plan study to analyze the horrendous environmental consequences of Barrick Gold in DR?

2000 years later..I still hearing Jesus saying, "Father, forgive them, for they don't know what they are doing. .

Barrick Gold to seal reviewed Dominican mine contract next week

 

Santo Domingo.- Several senior executives of Barrick Gold Corp. will visit the country in the next few weeks to endorse the contract renegotiated with the Dominican Government.

The announcement comes two weeks after Barrick Gold capitulated before president Danilo Medina’s stern warning to review the gold mining contract to give the country a faire share of the income.

Once the preliminary agreement signed May 8 is ratified, it would be submitted to Congress, which is expected to approve the amendment.

The government officials who participated in the talks to rewrite the contract for the mine at Pueblo Viejo (northeast)  have continued holding meetings to hammer  out some details.

A source quoted by hoy.com.do said despite the announced preliminary agreement, it’s a complex negotiations involving several new financial aspects, especially for the Canadian miner.

The source also notes that while gold’s price of US$1,600 an ounce was used as the reference in the renegotiation, what should be done regarding its current downward trend must still be established.
 
 ________________________________________________________________________

 The source didn't mention that BG keeps the same operational cost as it was in 2008, so it keeps a VERY good deal for BG.

The conversation of BG and the government were about the financial issues.They haven't talk about pollution, eviction ,unemployment, cleaning the cyanide and mercury from the rivers and dams, , water treatment program , health issue, dead crops and what are they going to do with the 600 families they left without water in that area.

The situation now is unbearable for those people living in the second poorest area of Dominican republic


The government was supposed to be protecting their people. So far it seems like another scam to me.


Time to be good Dominicans and support our brothers and sisters in that deprived area.We need to be proactive and keep our natural resources.

Time to say no to Barrick Gold !

Barrick Gold Fined $16M For Environmental Problems At $5B Pascua Lama Project In Chile

Chile blocks Barrick Gold mining project

 

Diaguita Indians celebrate victory in seeing mining giant Barrick Gold Corporation fined for environmental violation.

More bad news for some embattled gold miners. On Friday, Barrick Gold was halted around noon in New York as reports surfaced indicating the Chilean government had forced the company to “paralyze” its operations in Pascua Lama, one of the largest gold and silver resources in the world into which Barrick has poured nearly $5 billion in. Silver Wheaton , a joint-venture partner in the project, was halted a few minutes later.

According to Chilean daily El Mercurio, Barrick will be fined about 8 billion Chilean pesos, or $16.4 million, given the company’s failure to comply with environmental regulation. Beyond the fine, Chile’s Superintendent for the Environment, Juan Carlos Monckeberg Fernandez, has established that all construction activity at Pascua Lama must stop immediately.


The Pascua Lama project is located in the Andes Mountains, between Chile and Argentina. Barrick had already announced its operations in Chile were halted in its latest earnings release, as the company was assessing environmental and regulatory requirements, while negotiating with a court of appeals. Barrick has invested nearly $5 billion in Pascua Lima, which holds almost 18 million ounces of proven and probable gold reserves and 676 million ounces of silver.

The main problem appears to be the water management systems at Pascua Lama, El Mercurio reported. The open-pit mining project has the potential to contaminate water in the area, and according to the Chilean government, Barrick hasn’t taken the proper precautions, precautions it had agreed to previously.

It hasn’t been a good year for gold, or anything related to it. Major mining companies have all suffered steep stock price declines. Barrick Gold is among the worst performers, down more than 40% in 2013, but others like Newmont Mining NEM -0.78% and Goldcorp are also well in the red, down more than 20% each. Gold prices have also taken a beating, with bullion currently trading below $1,400 an ounce.

                                 Diaguita people

 People from the Diaguita indigenous group whose community lives downstream from the mine allege that their water supply and glaciers have been contaminated by the construction work.

The Diaguita people who live in small towns along rivers that flow down from the mine were feeling a sense of victory on Friday.

"Even though we seem so small, we could beat Barrick, which is a giant," said one community member Osvaldina Guzman Villegas.

 
______________________________________

Barrick Gold  couldn't fix the contamination issue in Chile, so they lost their mine.Now we are having the same issue in Dominican Republic, but in way worst situation because we are a way smaller country that can not hold so much cyanide, mercury and led.

We need to take care of our people as well, specially the ones that lives in the small towns along the rivers of Cotui.

Eventually we are becoming the Chernobyl of the Caribbean.

The question is: Is BG REALLY trying to stop the pollution in DR?

Nixed nickel mine is Dominican environmentalists’ 3rd major victory

 
Santo Domingo.- In the heels of the United Nations Development Program’s (UNDP) report that Xstrata Nickel Falcondo’s plan to mine Loma Miranda isn’t feasible, civil society groups were quick to demand its designation as a National Park.
 
The report against the planned mine marks the third major victory for the country’s environmental movement, after the ban on development of the Bahia de las Aguilas beach, and the construction of a cement plant near the Los Haitises National Park.

The UNDP said of evaluation of the environmental impact assessment by the firm, said the Falcondo’s project neither meets environmental, social nor sustainable development requirements.

In a press conference Thursday, UNDP officials headed by country representative Valerie Julliand listed the deficiencies found in the Falcondo study, noting that the miner didn’t take into account the growth in water consumption nor an analysis on the project’s impact on rivers. "Given the deficiencies in the environmental impact study, it’s concluded that the Loma Miranda project doesn’t meet the environmental and social requirements and therefore, the country’s sustainable development."

The UNDP official said relevant issues were omitted, such as ecosystem services and risk, and were considered only those relating to mining activity and not those of social biophysics.

Technology

The report notes that aside from those considerations, Falcondo did submit a novel project with new mining technologies in areas of sediment and runoff management and the reforestation process in the affected areas.


 
 Academy of Sciences

Dominican Republic Academy of Sciences president Miltiades Mejia said once again its technicians showed they possess the knowledge to express objections on topics such as Loma Miranda, when they called the project as unsustainable and counterproductive while taking into account the population’s views.
"Our proposal today is to designate Loma Miranda a National Park and ask Environment minister Bautista Rojas to enforce Law 64-00 in the case of Xstrata Nickel’s operation, to start restoring the mined areas, as the Law stipulates," Mejia said.

Bonao supports
The Bonao City Council yesterday issued a resolution to support the city of  La Vega’s demand that Congress declare Loma Miranda a protected area, according to a proposal submitted by Senator Euclides Sanchez.
 
Falconbridge willing to dialogue and to improve
Meanwhile Xstrata Nickel Falcondo said it would carefully analyze the UNDP’s report on mining viability of its project near La Vega.

                                                            Conclusion
So far it's a great achievement by the Dominican society to stop this private sector threat, but people haven't stop thinking about the environmental impact of having Barrick Gold pouring tons of cyanide on the tiny island of Santo Domingo and the impact of the wild life, the crops and the human being  living there.

Everything is happening little by little in front of our noses, till it would be to late.

The situation in DR will be simply unbearable.

It will be like having a major atomic dirty bomb in the middle of the island, with a complete devastation and deadly chemical and mineral pollution everywhere.
 
People is waiting for a report of the department of public health and what are they going to do about it.

It's time to preserve our legacy and national patrimony .

It's time   to learn  the repercussions and to be aware of the great danger that we have as a nation Cyanide pollution could be lethal..We need to stop them!
We need to put our grain of sand  for our future generations..

Let's do it!

Organizations keep claiming 5% of the benefits from the Barrick

About 106 organization of Cotui demanded 5% of the benefits from the Barrick Gold
They deposit yesterday a document in the Palacio Nacional with their claims




Santo Domingo.Representation of 106 organizations and unions of Sanchez Ramirez deposit yesterday a document in the National Palace about their position of what they understand should be included in the agreement between the government and the Barrick Gold

Between the issues they want the 5% of the benefits of the exploitations , an improvement over the the environment issue, they want to have an open union of Barrick employees,warranty for the supervision, accounting and transportation of the production, and that the dominican state should have more control, between different issues.



Óscar Pérez Núñez,speaker of the group say they were concern because in the agreement signed between the government and Barrick Gold they barely mention the people from Cotui affected by the mining company


He mention that after the beginning of the exploitation, Cotui is suffering from a big pollution, situation that make people get sick with fever, vomit and diarrhea.

Pérez Núñez said that they are thinking leaving the province and everything behind due to the high contamination int the area

Pérez Núñez, mention in the letter, addressed to the president Danilo Medina, they suggest to give Cotui a 5% of the resources for an institution that would be concern with the problems of the province of Sanchez Ramirez



We have mention this before, over and over.. And people haven't pay attention of some of the inner problems of the community: health, contamination, employment ,water, clean environment,etc.

These affected communities is going to be a reflection of what is going to happens to the rest of the Dominicans.

We can keep talking , and Barrick gold keep taking gold out of DR,we keep their cyanide and mercury and we haven't seen a penny yet of BG.

Somehow, this drama remind me the biggest claim of Jerry Maguire: Show me the money

it's like a never ending situation with BG, when some people come from over seas assuming how naive are Dominicans, while they keep taking the gold away, over and over and over again.

Is there something that we don't know yet?

When this is going to stop?

Edited on 5/23/2013 9:08 AM by ohhhvictor.

Barrick Gold weighs fewer mines

Barrick Gold weighs fewer mines


New York - Barrick Gold, the biggest miner of the metal by sales, is considering shrinking in size as the company focuses on returns over production volumes, chief executive Jamie Sokalsky said.

“Being more profitable is better than being bigger,” Sokalsky said yesterday at the Bloomberg Canada Economic Summit in Toronto.

“If we divested of some of those smaller, higher-cost assets and came down to a suite of assets that are long-lived and lower-cost and more valuable, I think that ultimately that can be a better investment proposition.”

Gold producers are trading at their cheapest in more than a decade relative to the broader market, according to data compiled by Bloomberg, as investors flee the industry amid rising mining costs, project delays and asset writedowns.

Sokalsky, who took over as chief executive of the Toronto-based company 11 months ago, is reviewing growth plans and pursuing asset sales as gold trades at a two-year low and is poised to end a rally that has extended for 12 straight years.

Barrick, the owner or part owner of 27 mines, rose 4.3 percent yesterday to C$19.88 in Toronto.

The company closed at a two-decade low on April 17, losing its position as the top gold miner by market value to Vancouver-based Goldcorp Inc last month.

It makes sense for Barrick to shrink, said George Topping, an analyst at Stifel Nicolaus in Toronto.

Selling the company’s Australian assets would be “a good place to start,” he said.

Barrick is working with Bank of America Corp. and UBS AG on a possible sale of Australian mines, two people with knowledge of the matter said last month.

Resource Nationalism

“At the 8 million-ounce level, with 26 or so mines it’s very difficult to focus,” Topping said yesterday by phone.

“In order to have better managerial control you’re better off with fewer but much larger assets, preferably in the same north-south time zones.”

It’s easier to manage a company with fewer assets, said Sokalsky, 55.

The location of mines has also taken on a greater importance because of an increase in so-called resource nationalism, in which governments seek a bigger slice of revenue.

After a dispute with the Dominican Republic, Toronto- based Barrick on May 8 agreed to amend a lease governing the Pueblo Viejo mine in the country.



The conclusions:

• BG had the pressure on after loosing Pascua lama (Chile Argentina)

• BG lost the mines of Tanzania and China last years

• BG is going to fire sell the Australian mine

• The importance of Pueblo Viejo mine is HUMONGOUS for BG assets

• The rules of the game for pollution had changed for good in affected countries

• These news have affected the price of Barrick Gold stock (ABX) , therefor , their market capitalization.ABX is experimenting a bear market right now.

• They haven't release any statement about the future of the 600 families affected by BG contamination.

• They haven't release any statement about any reforestation program and water treatment program for Cotui-Pueblo Viejo

Event though a lot of people are happy with the financial agreement with BG, some of the inner needs of a lot of Dominicans haven't been fulfill yet like  health, employment,heavy pollution,evictions, housing, water, etc, etc.
People is still waiting..
 

The dark business of Barrick Gold





I was reading the news about the new agreement with Barrick Gold and the government., and I could tell that a lot of people were already celebrating the great achivement but certain things cached my attention.

• In the last interview with the 400 intoxicated Peruvian miners, they were complaining that BG took their passports and documents..Why is that?
  They are forced to work, no option whatsoever outside of BG, they are violating Dominican immigration laws because so far, none of them have working papers by the Dominican state, as some Haitian does.
  No employment for dominicans whatsoever in one of the areas of DR with the highest unemployment rate !!

Of course, if they don't like their job no more, they are not cover by Dominican law or any labor department.No money whatsoever..

• How come that Barrick Gold have the power for the eviction of 600 families of Cotui? isn't the government the first one that were supposed to protect them?

• With the last contract , people is very happy but they haven't stop thinking about the island in 25 years.
  The waters and land of the Cibao is already very contaminated, the heart of agriculture in the Caribbean..And it's only the first year! .
  Does it worth it? How come BG never reimburse them?

All Dominicans will be eventually a victim of that dark contamination: rich, middle class , poor as well.
They are going to leave over here a pool of cyanide, a simple Chernobyl of the Caribbean.

People will struggle over here for surviving!

Every penny we ever build in tourism or agriculture will be lost !




This is why not even reforestation can work:

• When you cut a tree for wood purpose , you still have land for the next tree.

• When you cut a tree for open  mining you use explosive to remove the vegetable lawyer of soil , living only caliche behind ( nothing can grow up out of there)

• They already use the water for cleaning their cyanide and mercury ..not for water thousand of acres of land..And that water can not be used for ANYTHING either

No water, no soil, no reforestation capacity, no will..NO WAY








 


In other countries , like Colombia, mining companies before they start operations, they have to pass an auditing for environmental impact by the government.And a third private party auditing the mining companies and the government as well.!
I 've never heard anything like that in the last speech of BG or the government

The level of contamination in our country is already very high.And when the water is over , the amount of money offered by Barrick Gold will be worthless.People is going to be fighting them for their right to live !.

If people think it twice about these topics that I mention before, they wouldn't be so happy celebrating.
If people think it twice , they would realize that Barrick Gold so far has only bring destruction , evictions, illness, contamination and misery to dominicans

So you, as a conscious dominican..What are you going to do now?

Barrick Gold Pollution

 Pollution of Barrick Gold in Dominican Republic



Everybody is happy with BG agreement with the government last week , everything happily settle down for financial issues, but there is anything made to shrink the environmental impact ?
Barrick Gold has been accused of a number of environmentally unsound practices by environmental groups.
The company has countered accusations by activists, challenging the accuracy of criticisms.

Criticisms include poisonous spills of cyanide , mercury and other heavy metals in Hatillo and Margajita and Yuma river, leading to environmental damage and the poisoning of human populations.



The director of Corporación del Acueducto y Alcantarillado de Santo Domingo (CAASD), architect Alejandro Montás, declared that the Hatillo dam is contaminated by Barrick Gold and can not be used no more for human consumption




Dead fishes from Hatillo dam.

Water depletion is a major negative consequence of gold mining, not to mention the poisoning of thousand of fishes, cattle and crops.. The large amount of water required to run a gold mining operation exacerbates its impact on local communities of Cotui and Cibao valley, many of which are already experiencing drought.

Last year not 106 as they claim, but 400 peruvian miners show up at Centro médico Ureña Hernández of Cotuí, in DR with symptoms of intoxication.

The base of Cotui economy is not mine activities but agriculture production, mostly exportation of pineapple

There is a very delicate balance in Dominican ecosystem , and now everybody seem unfriendly to the natural resources situation.






 A lot of people are complaining about the pollution left behind by the Rosario, but the super negative impact of Barrick Gold is unbearable..Once the gold oxide was processed, the sulfides were exposed and the mine was abandoned to its fate, allowing acidic waters from the Margajita River to drain away to the Hatillo Dam.

The acidic water is the result of a mixture of rainwater and the minerals from the gold sulfides that have remained exposed.

Another legacy of negative environmental impact from Rosario is the accumulation of heavy metals like iron, copper, and mercury , but now is way worst with Barrick Gold new damn El llagal and at at the site of the old plant and the sludge from Mejita and Margajita Rivers.


 



El Llagal , new illegal dam made by Barrick Gold




The contaminated Margarita river
 

Maguaca river


 Contaminated Margajita River by Barrick Gold according to the  president of Miguel de Peña García Fundation

There must be a serious environmental  plans to clean the cyanide and mercury from DR , because the damage could  be intolerable for any kind of vegetable animal or human life.Otherwise, get ready to start pointing fingers, as we did a couple weeks ago..

Somebody have to take the responsibility for no taking care of our natural resources, because once they  are lost, they will be lost forever.

Somebody better be responsible for the ecological mess in our fragile ecosystem!

The gold have some value but our land and our people health is worthless?

Is it ok that we get our rivers and lakes full of cyanide and mercury and nobody complains about it?


Are we conscious that no fish, animal life or  vegetable life  can ever grow up in such poisonous conditions?

Did we ALL get insane?

The new dark deal between Barrick Gold and the Dominican state

Pact: Dominican Republic gets 51%; Barrick Gold Corp. 49%
 Pact means US$1.5 billion more for the country 

 
 Meet the new pirates of 21st century!

"CEO: We’re here to stay, unless we’re expelled"
 

Santo Domingo.- After months of talks, protests and proposals, Dominican Republic and Barrick Gold Corp. on Wednesday reached a new agreement on the contract for the mine at Pueblo Viejo, Cotuí (northeast).

In a press conference after a meeting of several hours between senior officials and Barrick Gold executives in the National Palace, the government announced the pact to amend the contract, to be submitted to Congress as soon as possible.

"The objective of this review was to achieve a more balanced agreement for both parties and more in line with the Dominican reality, so we will sign a memorandum of understanding between the parties," said Presidency chief of staff Gustavo Montalvo.

Among other points, the agreement will raise Government revenue by more than US$1.5 billion over the project's duration, in addition to the US$10.0 billion projected in March 2013, and raises the profit split from 37.1% to 51.3 % for the country, and lowers Barrick’s from 62.9% to 48.7%
According to the document read by Montalvo, the projected tax revenue is US$11.6 billion, of which Pueblo Viejo will provide US$2.2 billion during the 2013-2016 period, subject to a gold price of US$1,600 per ounce. "The parties agreed to eliminate the 10% internal rate of return for the tax on the stake of net income to take effect."

The agreement eliminates Barrick’s privilege of starting payments to the State when the investment of capital is completed, for which tax payment tax would be immediate.
With the provisions, it will now take the Canadian miner until 2026 to recover its investment, and not bu 2016 as was stipulated.

Barrick Gold Pueblo Viejo CEO
 
For Barrick Gold Pueblo Viejo CEO Manuel Rocha the agreement is evidence of the miner’s commitment with Dominican Republic, from where he affirms will leave only if expelled. “We believe in the Dominican Republic ,we believe the democratically elected government here, what’s needed now is that we both do our part, it’s clear that Barrick Gold didn’t come just for a bit, we came to stay. We will work to stay unless we are expelled.”

 ________________________________________________________________________




Let's do some quick math here
Barrick’s 27 shipments since Nov. 11 were reportedly 9,040 kilos of gold and 24,357 of silver


kilo = 35.27 oz
Gold oz price :US 1600

9,040 kilos x US1,600.00 x 35.27=


U$510,145,280.00
__________________________

Silver: U$25.- per oz

US25 x 35.27 oz x 24, 357 kilos=
U$21,476,784

___________________
Total taken by Barrick gold till now :
U$531 Millions in 6 moth of operations

Based on previous numbers: Forecast a year of BG; U$1,062 millions


So, according to 7dias.com.do the dominican state will get U$11,600 millions for the life of that mine for 25 years .
U$11,600 / U$1062: : 10 years to achieve that goal for Dominicans.. the other 15 years are Barrick Gold 's time.
So the deal is not 49 %-51% as they initially said before.

The other open questions are these..

• -What happens with the retroactive payment?Is there going to be any as Danilo promised?

• -When is going to be the first payment and for how much?

• -Any serious reforestation plans for the future?

• -Are they going to pay the fines for smuggling dore?

• -When are they going to pay the millions they already owe to Dominican state? Arent they?

• Are they going to have a water treatment facility to clean the cyanide and mercury?Do they talk about it?

• What about any plans for clean water and sanitation for the community, the second poorest one in DR??

•  Three years ago , people used to have their own water, now they dont have water or  river because it's so polluted, so they are allow to take only 2 gallons of water per family from a water truck, because BG is using their water for the mercury and cyanide  procedure.

• What can expect the people from Cotui in the next 25 years? Eviction of everybody?

• How are they going to clean their toxic mess in Hatillo dam, and the rivers of Cotui?

• -Are they going to provide employment for Dominicans? To have 97% of foreign crew is against dominicanl law..Right?

-How are they going to measure the already taken dore from DR? What is the procedure to put a value on the millions already taken away..? Or the one is going to be taken away in the future? Or our gold don't have a value no more?

I have to agree that there is a big improvement over the last contract,and some people are super optimist, but not everything is clear.
Again.. Now we have more questions than answers..

Dominican government, Barrick Gold strike mine deal; reports

Santo Domingo (hoy.com.do).- After a marathon meeting Tuesday  the Dominican government and Barrick Gold Corp. reached a tentative agreement to amend the Pueblo Viejo mine contract, although how a new tax would be levied was left pending, local media report.

Canadian miner executives John Lawson Thornton, Calvin Francis Pon, Alann Hjordis Heath, Derek Hudson Burney, Kelvin Paul Michel Dushnisky, Andrew Lloyd and Curtis Arthur Johnson arrived in the country Monday noon and met with government officials headed by Presidency chief of staff Gustavo Montalvo.
 On Tuesday president Danilo Medina said he hopes to strike a deal. "It’s a negotiation. You start with endpoints and reach a midpoint. God willing a midpoint will be reached today (Tuesday)."

 


There should be more scrutiny focus on the  ambiguity of Customs and the laws of a mining country that in   an act of ignorance or  permissiveness, haven't even care to purchase a lab that allow to detect  dore and other metals, taken away from DR  under the shadow of night ... Towards a rising movement  that bet on softening popular anger against the mining activity of BG and his deadly pollution, after being fine tuned with the same money that has come out of the  innards of our land ... Towards the talks between the Government and the arrogant company that haven't pay a dime to the Dominican government yet...

We dominicans are so feed up with lame excuses  from BG, who got a 48 BILLION gold mine for free, over and over and over..

In this case we only hope that the final deal would be beneficial to the VERY poor communities around Barrick Gold, where children can get an education , people can go to the hospitals, people can get a decent job, not a total pollution or a total devastation situation ..At the end,we are not asking for too much, just that  people can get a REAL and decent way of living..

 On February 27, in the  National Assembly, President Danilo Medina created great expectations to raise the urgent need to review the contract with Barrick Pueblo Viejo. And the people took his word. A double-edged sword. Now many people expect him  to act under the power of his own  speech.

And we do not ask much. Just ask him to be thoughtful and not give in to blackmail or urban legend  from the powerful mining company. Do not delay the awaited good news for the whole country.
Again , we hope that God give wisdom and patience to the Dominican leaders, so the deal would be really beneficial to a third world country like Dominican Republic

Barrick Gold, Dominican Government poised for showdown


\

Santo Domingo.-  Seven Barrick Gold Corp. executives arrived at Las Americas Airport from the U.S. on Monday, as the Government retains a third a gold shipment in as many months to press talks for a new contract.
A source close to the negotiations between the Canadian miner and the Government was quoted by eldia.com.do as saying that Barrick could notify its decision to take the case to international arbitration.
It was learned that though the notification wouldn’t halt the talks with Dominican authorities, it would advance the arbitration if a deal isn’t reached.
A shipment of 1,264 ounces of gold and silver bars bound for Canada was retained by Customs at Las Americas on May 1.
Barrick Gold senior executives Calvin Francis Pon, John Lawson Thornton, Alann Hjordis Heath, Derek Hudson Burney, Kelvin Paul Michel Dushnisky, Andrew lloyd and Curtis Arthur Johnson arrived noon Monday on a private jet from Denver, Colorado.
Customs accuses Barrick Gold of "constant irregularities" on export forms, but in a statement the Canadian company said that "all documentation for shipments made to date has been inspected and approved" by Customs.

 Peter Munk founder of Barrick gold with John Lawson Thornton a chairman of BG who is in the DR trying to resolve the conflict

Presidency chief of staff Gustavo Montalvo last week revealed that a "final offer" was already sent to the company to renegotiate the contract. “In any given scenario the Government will receive retroactive compensation payable to the country for mineral exports."
It was also reported that the Government hired a company to assess Barrick Gold’s investment, and found a “sizeable” difference with the Canadian miner’s figures.

 

The Dominicans have been warning BG for so long for constant irregularities  and review of the contract .Now that they didn't want to renegotiate the contract since the first time, they came begging for a review and an interview with the government officials.

The Dominican president was clear :  "the Government will receive retroactive compensation payable to the country for mineral exports."

The Barrick Gold officials have been acting with a lot of arrogance , and keep ignoring the claim of the dominican government to get an agreement. Under the actual contract the  Dominican wont see a dime in real life while Barrick Gold will make billions  out of the Dominicans, while the area keep flooded with  cyanide .


Barrick Gold tradicionally have a dark past in their relation with countries they have gold mines at.Last month they were fined in Nevada, USA,  and two weeks ago they were expelled of Chile.Barrick gold have a long history of scams, brivery, heavy pollution, evictions, etc..
Maybe that's why Barrick Gold is the most hated company in the world.Hopefully this time Dominican officials will get some wisdom at the time of signing the contract.

Barrick says they don't know the reason for their shipment retention

RE: Say no to Barrick Gold pirates

06 de mayo del 2013
Barrick says they don't know the reason for their shipment retention
Barrick Gold dice desconocer razones de retención de nuevo embarque
ww.7dias.com.doSanto Domingo06 de mayo del 2013







En un comunicado emitido este lunes, la empresa desmiente que el retraso en el embarque obedezca a la detección de irregularidades en los documentos de declaración que deben ser llenados.

“Toda la documentación de los embarques realizados a la fecha ha sido inspeccionada y aprobada por la propia DGA. Cada vez que la DGA nos ha comunicado algún cambio en cuanto a los trámites de exportaciones, hemos procedido a acogerlos. En dos de los embarques tuvimos inconvenientes debido a limitaciones del propio sistema SIGA de la DGA”, apunta Barrick Gold.

Insiste en que, hasta ahora, no ha sido notificada por la Colecturía de la DGA en el Aeropuerto Internacional de las Américas de que hubiera error o irregularidad en la declaración, por lo que ignora las razones de la medida de las autoridades.

En algunos círculos se comenta que con este tipo de medidas el gobierno del presidente Danilo Medina ejerce presión para lograr la revisión del contrato.


In some circles, people comment that these are measures by the goverment of the president to force a long waited revision  of the contract -scam


“Reiteramos que en todos los aspectos de nuestras operaciones, perseguimos el cumplimiento a cabalidad de todas las leyes y normas establecidas por la autoridades nacionales por lo que esperamos que se normalicen los trámites para poder proseguir con la exportación como se ha hecho con los 27 embarques anteriores, todos debidamente autorizados por la DGA”, concluye la minera.

The Customs Agency instructed its Punta Caucedo Port office at Las Americas Airport (AILA) to retain Barrick’s gold cargos until it reaches a new agreement with the Government.

Esta misma mañana, autoridades aduaneras informaron que procederían a tomar nuevas muestras del retenido embarque número 28 de oro y plata para comprobar la correspondencia entre lo embarcado y lo declarado.

The information was provided  at Las Americas, from where a detailed report was sent to president Danilo Medina , after inspections conducted on Barrick’s exports found alleged irregularities.
The Government reportedly instructed Customs to slap the mining company with more than US$96.0 million in fines for its doré shipments.
______________________________________________________________________________

Poor Barrick Gold, so naive and innocent..Maybe if some employee would ever read a dominican newspaper and see what EVERYBODY in DR is thinking about them ,
-about smuggling gold in front of the authorities

-the eviction to hundred of families,

-the disrespect to the Dominican president


-the TOTAL IMPUNITY while breaking dozens of dominican laws

-the problems with the government,

-scams ,

-the arrogance with the press, the government and the Dominican people,

-illegal dams constructions,

-why they were expelled from Chile last month,

- illness and cyanide pollution in a bunch of rivers of Cibao valley,

-how they bring misery to the communities that they touch,

-and most of all, how Barrick Gold get the pinnacle of infamy ,They would get an answer..
But of course..Barrick Gold didnt know anything about it !

"Poor Barrick Gold.. Such naive and innocent` " !

After 500 years , the gold exploitation continues at ANY cost..!

 Please visit our latest video.Click here:

No to Barrick Gold

Barrick gold final warning in Dominican Republic

 Barrick Gold ships US$496M since Dominican leader’s warning
 

Santo Domingo. - Barrick Gold’s gold and silver exports ?? 11 topped US$496 million since November, ratcheting its shipments after president Danilo Medina issued the April 30 deadline to start talks to review the mining contract to give the country a bigger share.

Citing a Customs Agency source, elnacional.com.do revealed that Medina will receive today the full report on the review of Barrick’s 27 gold and silver shipments to date.
Barrick’s 27 shipments since Nov. 11 were reportedly 9,040 kilos of gold and 24,357 of silver.


 Our personal math
Barrick’s 27 shipments since Nov. 11 were reportedly 9,040 kilos of gold and 24,357 of silver


kilo = 35.27 oz
Gold oz price :US 1600

9,040 kilos x US1,600.00 x 35.27=


U$510,145,280.00
__________________________

oz silver: U$25.-

US25 x 35.27 oz x 24, 357 kilos=
U$21,476,784

___________________
Total taken by Barrick gold till now :
U$531 Millions
_______
Total paid to the Dominican state:

US 0 Dollars
______
Total they are planing to pay to the Dominican state:

US 0 Dollars
______
Total paid in Fines for smuggling:

US 0 Dollars

____
Dominican Republic offers Barrick Gold a “final” deal

Dominican Republic on Tuesday made to Barrick Gold what it calls the final proposal to amend its mining contract, the Presidency’s Press Office said in a statement.

"We have presented today (Tuesday) a final proposal and we expect an answer in the coming days," the document says.

"In any given scenario the government will demand compensation to the country for mineral exports payable retroactively," it said, noting that any decision the Executive Branch agrees to will affect the mining company’s total exports "since the first ounce of gold that left the country, November 13, 2012."

He said the commission designated for the talks underwent an intense process in recent weeks, "which should lead to a definitive definition, in the short term.


The Dominican government already gave them their final warning.So far Barrick gold  has always a last nasty trick under the sleeves.

They have pretend to ignore the government about renegotiate the contract-scam they made before.

under that scam, they dont have to pay a single penny to the government.

Barrick Gold already have nasty relationship with governments all over the world,. Specially in Latin America.

They were ordered to halted operations in Chile this month and to pay a big fine in Nevada  , USA for contamination..

Their idea of not paying nothing to the Dominican government , continue smuggling gold shameless in  front of the authorities, and heavy polluting dozens of rivers in Dominican Republic is unbearable, not to mention dead cattle, spoiled crops  and a lot of ill people.

So far, Barrick gold have only bring misery to Dominicans and the proofs are way overwhelming

The Dominican President have the support of most Dominicans.

As far as I could see, the only result is to follow Chilean steps.

Time to stop Barrick Gold!

Update..->  ->   ->. Breaking news!

US$96M fine ratchets Dominican Republic-Barrick Gold showdown 

 

Santo Domingo.- The Dominican Government on Wednesday halted another precious metal shipment by Barrick Gold, just hours after offering the Canadian based minor a “final deal” to amend the contract for the mine at Pueblo Viejo.
The Customs Agency instructed its Punta Caucedo Port office at Las Americas Airport (AILA) to retain Barrick’s gold cargos until it reaches a new agreement with the Government.
The information was provided Wednesday morning at Las Americas, from where a detailed report was sent to president Danilo Medina on Tuesday, after inspections conducted on Barrick’s exports found alleged irregularities.
The Government reportedly instructed Customs to slap the mining company with more than US$96.0 million in fines for its doré shipments.


Another smuggling case, just minutes after the warning? 
So Barrick gold is above dominican laws and the President as well?
So the dominican president means nothing to Barrick Gold?

This is going to be good!