Congress to get new Barrick Gold contract before September 7
Santo Domingo.- The Executive Branch will submit to Congress an addendum to the contract with Barrick Gold’s local operations before September 7, Presidency chief of staff Gustavo Montalvo announced Monday.
He said the government’s working hard to review the contract’s legal aspects before the 120-day deadline set to submit to Congress, and expects quick approval by lawmakers.
The changes to the contract for the gold mine at Pueblo Viejo, Cotui (central) would boost Government revenue to more than US$1.5 billion over the project’s lifetime, in addition to the US$10.0 billion projected in March 2013.
In May president Danilo Medina announced having reached a preliminary contract-amendment agreement with the Canadian based miner, after record windfall profits from skyrocketing gold prices sparked nationwide protests demanding a higher share.
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