Barrick Nuigini ltd and PNG IRC reach Resolution on Porgera Mine Tax Matter
Barrick (Niugini) Limited (BNL) and the Internal Revenue Commission of Papua New Guinea (IRC) are pleased to
announce that BNL, Barrick Gold Corporation, and the IRC have settled all disputes and issues relating to old Porgera tax matters on terms satisfactory to the parties.
Although BNL and Barrick had the option of appealing the objection assessment, the parties resolved to settle the matter amicably in the interest of reopening the Porgera mine.
The settlement enables BNL and the State to re-open Porgera as soon as other pending matters are finalised.
BNL would like to express its appreciation to the IRC for their cooperation and professionalism throughout the resolution process.
The company remains committed to upholding the highest standards of corporate integrity and ethical conduct.
Image caption: IRC Commissioner General Sam Koim and Barrick Chief Operations Officer Latin America and Asia Pacific, Mark Hill shaking hands after the signing of the Deed of Settlement this morning at Revenue Haus in Port Moresby.
Statement/Kalang FM/PNG Today
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