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Court requests PNG to negotiate Barrick on Porgera license (NYSE:GOLD)

Barrick Gold (GOLD +3.6percent ) states a Papua New Guinea court judgment has ordered the authorities to reassess its petition for a rental extension to the Porgera gold mine.

The business states that the PNG National Court arrangement requires on both sides to sue prior to returning in weekly to report the progress of discussions.

When the talks don’t reach agreement, the court could appoint a licensed strategy to facilitate the discussions.

Barrick and China’s Zijin Mining (OTCPK:ZIJMF) – that earlier this week warned that the authorities that it had been damaging relationships with China – per maintain a 47.5percent stake in the mine.