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 reopen 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.
