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

Dominican Today
May 1st, 2013

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.

 

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