10 July 2020

Canadian miner Barrick Gold Corp said [...] it served a dispute notice to the Papua New Guinea (PNG) government over the country's refusal to extend a mining lease in the Porgera valley.

The company said the notice was sent by its subsidiary Barrick (PD) Australia Pty Limited, an investor in the Porgera mine, citing a violation in a bilateral investment treaty between PNG and Australia as well as international law governing foreign investment.

[...]

In a separate statement, Barrick's joint venture partner Zijin Mining Group Co Ltd said on Friday the two companies have approached the World Bank's International Centre to settle the dispute over the Porgera lease extension.

Barrick and China's Zijin Mining Group each own 47.5% of the Porgera mine.