Showing posts with label mining. Show all posts
Showing posts with label mining. Show all posts
Monday, February 29, 2016
Monday, June 3, 2013
Barrick Gold in Chile: ‘We regret environmental problems, we’ll comply’
Barrick Gold in Chile will comply in enviromental issues, not in Dominican Republic
Canadian mining company Barrick Gold Corporation said today that it will comply with the details of the resolution of Chile's Superintendent for the Environment (SMA) in which the authority fined the company US$ 16.4 million.
As Digital Journal reported earlier today, Chile’s SMA announced a fine of about 16,4 million dollars to Barrick Gold for violating several regulations and environmental compliance resolutions. Additionally, the authority instructed Barrick Gold to stop construction activities at the Pascua Lama project until contaminated water management systems could be implemented in the manner provided in the Environmental Qualification Resolution that approved the operations, but the company had failed to put in place.
Today the company issued a statement saying it will build temporary structures to gather, transport and discharge water into a settling basin north of the mine and will monitor the environmental variables affected by the operation which threaten Andean glaciers very important to local indigenous Diaguita communities.
""We deeply regret that Pascua Lama has suffered difficulties in its construction and we will endeavor to rectify the problems and meet the terms of the approved project. We are respectful of the institutions of the countries in which we operate, and consequently, we will act according to the resolution."" said Eduardo Flores Zelaya, president of Barrick Gold South America, and Senior VP of Pascua Lama, according to LaTercera (in Spanish).
Furthermore, the company’s website posted a declaration which includes the following statement: ""Barrick is fully committed to complying with all aspects of the resolution and to operating at the highest environmental standards." "
After reading this ,,we ask our self several questions:
How come they were can comply in Chile and Nevada but not in Dom. Rep. ?
How come that nobody says nothing either?
Why the Dominican government is not forcing them to comply with environmental issues in the last "happy agreement"?
Why they didn't talk about reforestation, jobs for the poor people in the area , water treatment facilities,hospitals for the people that eventually will get sick, etc?
How come that the Dominican government haven't seen a dime yet?
Now we certainly have more questions than answers..
Canadian mining company Barrick Gold Corporation said today that it will comply with the details of the resolution of Chile's Superintendent for the Environment (SMA) in which the authority fined the company US$ 16.4 million.
As Digital Journal reported earlier today, Chile’s SMA announced a fine of about 16,4 million dollars to Barrick Gold for violating several regulations and environmental compliance resolutions. Additionally, the authority instructed Barrick Gold to stop construction activities at the Pascua Lama project until contaminated water management systems could be implemented in the manner provided in the Environmental Qualification Resolution that approved the operations, but the company had failed to put in place.
Today the company issued a statement saying it will build temporary structures to gather, transport and discharge water into a settling basin north of the mine and will monitor the environmental variables affected by the operation which threaten Andean glaciers very important to local indigenous Diaguita communities.
""We deeply regret that Pascua Lama has suffered difficulties in its construction and we will endeavor to rectify the problems and meet the terms of the approved project. We are respectful of the institutions of the countries in which we operate, and consequently, we will act according to the resolution."" said Eduardo Flores Zelaya, president of Barrick Gold South America, and Senior VP of Pascua Lama, according to LaTercera (in Spanish).
Furthermore, the company’s website posted a declaration which includes the following statement: ""Barrick is fully committed to complying with all aspects of the resolution and to operating at the highest environmental standards." "
After reading this ,,we ask our self several questions:
How come they were can comply in Chile and Nevada but not in Dom. Rep. ?
How come that nobody says nothing either?
Why the Dominican government is not forcing them to comply with environmental issues in the last "happy agreement"?
Why they didn't talk about reforestation, jobs for the poor people in the area , water treatment facilities,hospitals for the people that eventually will get sick, etc?
How come that the Dominican government haven't seen a dime yet?
Now we certainly have more questions than answers..
Tuesday, May 28, 2013
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 !
Friday, May 24, 2013
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!
Wednesday, May 22, 2013
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:
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..
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..
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