Barrick gold in argentina
The mining company has a presence in the world’s major mining regions. Africa and the Middle East, Central and South America, and Asia-Pacific have maintained an upward trend in production, reaching the upper end of the forecast range.
Within the mines grouped in the Nevada Gold Mines joint venture, which it shares with the US company Newmont, both Carlin and Cortez will be at the lower end of their annual forecasts, while Phoenix and Long Canyon will be at the higher end.
Barrick gold owners
In 2006, the Canadian company Barrick Gold Corporation purchased all the assets of Placer Dome Inc. which included the rights to the CEAM. As a result of this purchase, the mine located in the Sanchez Ramirez province is operated by Pueblo Viejo Dominicana Corporation (PVDC), a consortium between Barrick Gold Corporation (60%) and Newmont Goldcorp Corporation (40%).
PVDC is exempt from paying any other taxes not mentioned above, with the exception of payroll taxes. The company, therefore, does not pay import or export taxes, ITBIS, excise taxes and any other consumption tax, as well as municipal taxes and excise duties.
In addition to the tax regime, the CEAM and its amendments establish obligations for the company in environmental matters, monetary provisions and financing. The First Amendment introduced depreciation rates of up to 40% for processing plants and equipment and provided that the State will assume the payment of 5% of the net profits generated in accordance with Law No. 64-00 on the Environment to the municipalities where the mine is located. It also provided for the creation of a Guarantee Fund for the costs of the closure and post-closure period of the mine. By means of this Amendment, the Central Bank assigns to the Dominican State its rights and obligations under the CEAM signed in 2002.
In 2001, Barrick merged with Homestake, which marked the acquisition of the Veladero mine in San Juan province. During 2006, following the acquisition of Placer Dome, the Zaldívar copper mine, located in the Antofagasta Region of Chile, became part of Barrick’s South American assets.
The book Noir Canada. Pillage, corruption et criminalité en Afrique (Black Canada: Pillage, corruption and criminality in Africa by Alain Deneault) deals with the actions of several Canadian companies in Africa. Regarding Barrick, he claims that the company was involved in the massacre at the Bulyanhulu mine in Tanzania, where more than fifty artisanal miners (“pirquineros”) were buried alive because of the government’s haste to clear the site and fill in the shafts. In the case of Barrick, he claims that the company was involved in the massacre at the Bulyanhulu mine in Tanzania, where more than fifty artisanal miners were buried alive because of the government’s haste to clear the site and fill in the shafts.
Regarding the book’s claims about Bulyanhulu, on October 29, 2002, the World Bank’s CAO released a report summarizing its assessment of the allegations made by Lawyers for Environmental Action Movement (LEAT), about Bulyanhulu. In serious allegations, the complaints pointed to the deaths of artisanal miners during an eviction action in 1996, prior to Barrick’s purchase of the Bulyanhulu property from Sutton Resources Ltd. in 1999. The Report dismissed the allegations, stating that there was no convincing evidence to support LEAT’s version of events and that the repetition of unfounded allegations did a disservice to the interests of the people living near the mine.
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