- Thread starter AlterEgo
- Start date
Barrick Gold's effect on DR Environment - important video!
This is how things work in Chile. Could we ever see anything like this happening in Cotui? I would go as far as to say never.
Barrick Gold fined in Chile, faces opposition in Dominican Republic | MINING.com
From the article it says
"First, Chilean authorities charged the company with a $250,000 fine over its Pascua Lama mining project last week, forcing the miner to halt construction work due to alleged sanitation issues and violations of miner?s glacier monitoring plan.
Chile?s National Geology and Mining Service (SERNAGEOMIN) had ordered a halt to work in two parts of the Andean site Oct. 31 because the concentration of fine particles in the air exceeded safety limits.
The Ministry of Mines has not ruled out the possibility of revoking Pascua Lama?s Environmental Qualification, warned Solminihac, but he added that would depend on an evaluation by the appropriate authorities."
Who will be monitoring BG to ensure they don't pollute the surrounding areas? If anybody is tasked with doing this do we really believe that they are going to ask BG to halt operations when they get out of line...and trust me they will if they haven't already.
Barrick Gold fined in Chile, faces opposition in Dominican Republic | MINING.com
From the article it says
"First, Chilean authorities charged the company with a $250,000 fine over its Pascua Lama mining project last week, forcing the miner to halt construction work due to alleged sanitation issues and violations of miner?s glacier monitoring plan.
Chile?s National Geology and Mining Service (SERNAGEOMIN) had ordered a halt to work in two parts of the Andean site Oct. 31 because the concentration of fine particles in the air exceeded safety limits.
The Ministry of Mines has not ruled out the possibility of revoking Pascua Lama?s Environmental Qualification, warned Solminihac, but he added that would depend on an evaluation by the appropriate authorities."
Who will be monitoring BG to ensure they don't pollute the surrounding areas? If anybody is tasked with doing this do we really believe that they are going to ask BG to halt operations when they get out of line...and trust me they will if they haven't already.
As long as "Barrick" keeps paying the right politicians, NO ONE WILL!
Just like at the "Bahia".
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Just like at the "Bahia".
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Good for Danilo, but I don't think he had much of a choice given the way the people feel about it. I didn't see the speech, but from reading Diario Libre it appears he did a good job of explaining how damaging this contract is by saying that the first few years of operations for every 100 USD of revenue Barrick would get 97 and the Dominican government 3. He's also taking the right approach IMO by not calling for re-negotiation (This could have an impact in the business development), but instead saying he would submit a law to congress to tax this large amount of revenue, in a fair manner, but making sure BG pays up its "fair" share...proof however will be in the pudding.
If/Once they do decide to revise the contract I'm sure in the end nothing will change. Maybe they will get taxed more up front, and then the government will return that money back to BG in some other form of tax breaks.
BG's stock has been going down for a while now...surprising considering how much profits they are expected to extract over the next few years. I guess smart investors already took those profits from the market or they're just not finding enough suckers a la DR nowadays.
Barrick Gold's response to Danilos speech.
Barrick Pueblo Viejo* dice est? abierta al di?logo con el Estado dominicano - listindiario.com
Barrick Pueblo Viejo* dice est? abierta al di?logo con el Estado dominicano - listindiario.com
FYI, Barrick has a slick website up presenting their side of the story (in Spanish) that is more or less the same as what they put out in a slick circular in all the Dominican newspapers recently: Mitos y Realidades sobre Barrick Pueblo Viejo, Rep?blica Dominicana
"LT", the fist investment by "BG" was to spend 75,000,000 Dollars to clean up the environmental "MESS" left by the last failed attempt to "Dig a Mine"!
I follow this"BG", drama, and the "Bahia De Aguilas" issue as well.
If you believe that "History Repeats It's Self", then you will see "Danilo" bend to inside pressure to "Back Off"!
Too much "BG" money going to too many "Politicos Y Ricos", and they want THAT to continue!
Most, if not all you see in the newspapers,and TV, show "Danilo" and his Cronies preaching that they will make "BG" PAY!
"They ALL, "Doth Protest TOO MUCH"!
It's "All Sizzle, and NO STEAK"!!!
They always want the "Status Quo" here.
They make a HUGE SHOW, but that's just so they can later say, "We Fought So Hard!"
And they go make their big bank "Deposito"!
"A POX On ALL Their Houses"!!!...INCLUDING "BG"!
I've seen it all 100 times before!
Now we are just seeing it AGAIN!!
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I follow this"BG", drama, and the "Bahia De Aguilas" issue as well.
If you believe that "History Repeats It's Self", then you will see "Danilo" bend to inside pressure to "Back Off"!
Too much "BG" money going to too many "Politicos Y Ricos", and they want THAT to continue!
Most, if not all you see in the newspapers,and TV, show "Danilo" and his Cronies preaching that they will make "BG" PAY!
"They ALL, "Doth Protest TOO MUCH"!
It's "All Sizzle, and NO STEAK"!!!
They always want the "Status Quo" here.
They make a HUGE SHOW, but that's just so they can later say, "We Fought So Hard!"
And they go make their big bank "Deposito"!
"A POX On ALL Their Houses"!!!...INCLUDING "BG"!
I've seen it all 100 times before!
Now we are just seeing it AGAIN!!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC