NewsWhore
11-03-2009, 04:10 PM
Sanchez Ramirez (Cotui) province deputy Rafael Molina Lluberes has expressed his opposition to the amended Placer Dome contract, now transferred to Barrick Gold. The contract with Placer Dome was signed when gold cost US$300 per troy ounce, and now gold costs US$1,000 per troy ounce. Mining expert Osiris de Leon has also been vocal, stating that the government has given up too much in the change of contract. He was asked for his opinion by a special Chamber of Deputies commission. De Leon says that when Barrick purchased Placer, the price of gold had already increased to US$564 per troy ounce, which would have generated US$36 million for the state, according to the original contract. But with the price of gold climbing to US$1,000, the state was due to receive US$194 million in benefits over a period of at least six years. De Leon says this motivated Barrick Gold to seek a renegotiation of the contract. De Leon denounces the fact that the renegotiation means that tax revenues will be RD$42 billion less. The contract was fast-tracked through Congress.
In exchange, Barrick accepted to be responsible for 50% of the environmental damage at the mine site, spending up to US$37 million on cleaning up the serious pollution in Cotui left by previous mining operations.
See www.osirisdeleon.com/index.php?option=com_content... (http://www.osirisdeleon.com/index.php?option=com_content&view=article&id=387:para-la-barrick-su-contrato-es-falaz-y-provocador&catid=58:fley-ambiental&Itemid=182)&
Ricardo Briones, a member of the National Environmental Assembly (ANA), warns that the contract passed in Congress also gives the company mining exploitation rights throughout the whole country for an indefinite period of time. See also
www.barrick.com/GlobalOperations/NorthAmerica/... (http://www.barrick.com/GlobalOperations/NorthAmerica/PuebloViejoProject/default.aspx)
More... (http://www.dr1.com/index.html#5)
In exchange, Barrick accepted to be responsible for 50% of the environmental damage at the mine site, spending up to US$37 million on cleaning up the serious pollution in Cotui left by previous mining operations.
See www.osirisdeleon.com/index.php?option=com_content... (http://www.osirisdeleon.com/index.php?option=com_content&view=article&id=387:para-la-barrick-su-contrato-es-falaz-y-provocador&catid=58:fley-ambiental&Itemid=182)&
Ricardo Briones, a member of the National Environmental Assembly (ANA), warns that the contract passed in Congress also gives the company mining exploitation rights throughout the whole country for an indefinite period of time. See also
www.barrick.com/GlobalOperations/NorthAmerica/... (http://www.barrick.com/GlobalOperations/NorthAmerica/PuebloViejoProject/default.aspx)
More... (http://www.dr1.com/index.html#5)