Excellent!

A contract is a contract is a contract!

trader

fire his ass

This whole mess with Barrick will have FAR reaching consequences. These self servicing politicos MUST be careful of what they do! Their interests are rarely the interests of the people. They are grandstanding and stand to do substantial harm to future investments!!!!

When Barrick illegally took over the old Placer Dome contract, and demanded and steamed through congress a favorable revision, the legislators obliged, like well trained mascots.
Now this low level head of mining is probably getting a skinny bone, thrown at him by Barrick, for his kind words.
I agree to fire his ass, he will most likely land a job with the revolving door, guess where?

Planner

Uninformed should stop opining about subjects below their comprehension.
One must not be afraid of your own shadow.

Leave my gold right where it is, until I can process it, and turn it to finished goods.

That way it will have higher value.

All Dominicans should support this…. Again why haven’t we obtained the tools necessary to exploit our own natural resources? Why give it away to some foreign company? this is why we still are a third world country, we are unable to use our own resources to our benefit…

451 mines say we are able and willing, but the officials like it the way it is.....It lines their pockets easier this way.

Reneging on a deal?

There's a word for that.

Well, with 80% Dominican employees at Barrick here, I can
only assume we are going to learn from the best:.....

HOW TO OPERATE AN OPEN PIT MINE PROPERLY
IN ALL ASPECTS!

DR does not have the human capital, contacts, savvy or resources to operate this kind of mine. The DR left the toxic mess of Rosario Dominicana, the precursor to Barrick, that was cleaned up after the fact by Barrick.

I can not believe that people are actually opposed to this mine which is a huge potential source of wealth to the DR.. Barrick released many figures in the Dominican papers today and there is more to come this week but the bottom line is that at a price for gold of $1700 , the DR will receive about 1100 million dollars over estimated life of the mine without injecting a peso of capital or a minisule of technical or managerial skill .. The original mess was cleaned up , as Generoso has said ,by Barrick and they invested 4000 million dollars here ,by far the greatest investment ever in the DR .Their employees are more than 86 % Dominicans and they provide total education and health care for the staff and children .
With such a large initial investment , of course, the negotiations had to include a tax holiday but I am unsure if this was based on an annual depreciation basis for a period or a percentage each year based on some other criteria . Anyway , the gold price has favoured them

But, again as generoso has stated . there is no way that the Dominican Government could operate a mine of this size and yet I see on the back of buses and on posts notices to throw Barrick out or to nationalise them . Are these people totally ignorant who encourage such actions ?? Here we have some man ,Potentini ,trying to undermine the greatest single source of income that this country is ever likely to see . If people want a little more because the gold price has risen , then let them take a little less if the gold price falls ...Then we would see some very nervous people..
If Barrick simply shut down their mine for a while ..just see the mess that the DR would be in

@ricardollito:

Let me correct you in a couple things;
-Under the amendment to the contract of BG , they DONT have to pay a DIME..they say AFTER the 5 years and AFTER they recover the initial investment..The can put ANYTHING in the books as initial investment...: trucks, buildings, material clean up etc..in fact THEY will NEVER pay a dime
-They havent pay anything YET and they NEVER will, under the terms of that contract
-of the 310 intoxicated miners , ALL of them were Peruvian ,No jobs for Dominicans
-They haven't provide NO education
-They dont provide ANY hospitals /health program
-So far there are 650 families relocated thanks to BG
-They dont do ANY clean up, With the Rosario at least we didnt have any red pools of cyanide and mercury everywhere.,rio maimon, margajita, Hatillo Dam etc..
-It isnt true that 86% of they labour is local, All the communities around are complaining tforjobs..
-They are super polluting the area

That's looting! They should leave NOW !

ohhhvictor,

If Barrick has left "red pools of cyanide and mercury everywhere" then Greenpeace and others would be having a field day and greenies (including me) would be screaming all around the world. They are not. So where's your evidence?

I suggest you focus on your average Duminican who is polluting the rivers. Do you need evidence? I have heaps, and who hasn't?

So all the facts and figures and all athe pictures and all the auxilliary buildings that are in the Dominican papers and on the Dominican news are all false ,,,and the statement by Barrick to have all these statements confirmed are nothing but lies....well that should make world headlines if it was the case .
I am not sure what ammendment you are referring to but They are nor obliged to pay yet and if they place non capital items into the capital items register , they are in breach of contract .but having seen the mine and all the huge infrastructure , the register will also be huge ..This is an enormous operation . They do provide health care and health insurance ..but as I am quite interested in this important project I would be happy to go to la Vega where I have numerous friends to find out more
Maybe a call to Diario libre to suggest they confirm that todays article is legitimate and that they take a TV crew also ....seems an easy way to solve things

generoso, & ricardollito
Absolutely correct. +++++

By the way , there are about 8000 people working on the site at present according to various reports ..

" less favorable to the national economic interest."
than what?
If the Bill passed through Congress then how is it illegal?
Against the Constitution? So is spending much less than 4% GDP on education but no-one (except a tiny group of teachers and university students) have any problem with that.
I doubt any of these bandwagon-jumping, self-serving politicians will go down with the ship, and sink as the Duminican Republic surely will without mining. It is the only way they can service the foreign loans the country lives on.

TV Ricky? Great idea!
Maybe show the buildings Barrick have erected legally, then contrast with the masses of slums, illegally built by fast-breeder reactor feral squatting peasants on flood-plains, river-banks and roadsides all around the country, and dumping their rubbish and effluent straight into the rivers.

Roy have a look at all the You Tube films of the mine of Barrick ....it is quite something and then also have a look at Diario libre of today/middle pages ..I think there will be more facts emerging tomorrow ....if you have time take the bus to la Vega...nice town and ask about all the drunk Peruvians..
and then pose as an Australian journalist ...big mining country and ask about how Barrick is not going to give the DR a peso ..........
But why should we worry ...just keep your money safe out of the DR

It will be interesting to see if DT publish any of the information handed out by Barrick Gold as per the press yesterday and today ..it at least gives a perspective that the contributors either do not know of or seek to ignore

"do not know of or seek to ignore "
I suspect the latter.

Breaking NEWS>>>>>>>>>>>


"Draft Bill presented to Congress to nationalize the Barrick Gold"

Read the rest at:


"Presentan al Congreso anteproyecto de ley para nacionalizar la Barrick Gold"

hoy.com.do/el-pais/2013/2/12/466802/Presentan-al-Congreso-anteproyecto-de-ley-para-nacionalizar-la-Barrick-Gold

Excellent!

That gold belongs to Dominicans..We should never give it away to anyone..it should help to improve the life or poor communities in the area.
Not to mention to pollute our waters FOREVER!

But when you are talking that they have riots over and over because not a single job is created for those poor families,
- that the president is Peruvian and he brought his own crew,
-that they didn't build a single school
,- hospital
- a single street,
- infrastructure, etc,
and the contract is SO lack of transparency, so sneaky
and under a DEEP scrutinization , not a single DIME will get to Dominican state...

So , there is not REAL benefit of having BG in D.R., the same thing they have done all over the world.!

Well , we should do what Balaguer did with Falconbridge: Under the contract they allow them to continue operating, but not allow them to export a single oz..

Them, they will be VERY EAGER to negotiate the contract again..UNDER FAIR TERMS