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Barrick offered to pay US$315m per year

Santo Domingo.- Mining company Barrick Gold offered the Dominican government US$315 million over the next eight years, in a counter-offer to the US$800 million over four years requested by the local negotiators.

The proposal was made in a letter sent to president Danilo Medina, dated 4th March, and received by the Presidency on 5th March.

The letter reminds the president that from 13th September to date eleven meetings have been held with a high-level commission designated by president Medina to seek alternatives that would allow the government to receive more income than stipulated. The communication was signed by the president of Barrick Pueblo Viejo, Manuel Rocha.

It states that the proposal entails redistribution in that the government would receive what it is entitled to from the gold exports, which does not necessarily imply affecting the income of subsequent governments.

Nonetheless, the letter was sent before the Customs Department halted an export consignment of gold-silver ore (doré).

On Thursday, presidency minister Gustavo Montalvo announced that the parties were close to reaching an agreement.

Source: DT

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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