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CEO: We’re here to stay, unless we’re expelled

Santo Domingo.- After months of talks, protests and proposals, Dominican Republic and Barrick Gold Corp. on Wednesday reached a new agreement on the contract for the mine at Pueblo Viejo, Cotuí (northeast).

In a press conference after a meeting of several hours between senior officials and Barrick Gold executives in the National Palace, the government announced the pact to amend the contract, to be submitted to Congress as soon as possible.

"The objective of this review was to achieve a more balanced agreement for both parties and more in line with the Dominican reality, so we will sign a memorandum of understanding between the parties," said Presidency chief of staff Gustavo Montalvo.

Among other points, the agreement will raise Government revenue by more than US$1.5 billion over the project's duration, in addition to the US$10.0 billion projected in March 2013, and raises the profit split from 37.1% to 51.3 % for the country, and lowers Barrick’s from 62.9% to 48.7%

According to the document read by Montalvo, the projected tax revenue is US$11.6 billion, of which Pueblo Viejo will provide US$2.2 billion during the 2013-2016 period, subject to a gold price of US$1,600 per ounce. "The parties agreed to eliminate the 10% internal rate of return for the tax on the stake of net income to take effect."

The agreement eliminates Barrick’s privilege of starting payments to the State when the investment of capital is completed, for which tax payment tax would be immediate.

With the provisions, it will now take the Canadian miner until 2026 to recover its investment, and not bu 2016 as was stipulated.

Barrick Gold Pueblo Viejo CEO

For Barrick Gold Pueblo Viejo CEO Manuel Rocha the agreement is evidence of the miner’s commitment with Dominican Republic, from where he affirms will leave only if expelled. “We believe in the Dominican Republic ,we believe the democratically elected government here, what’s needed now is that we both do our part, it’s clear that Barrick Gold didn’t come just for a bit, we came to stay. We will work to stay unless we are expelled.”

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COMMENTS
51 comment(s)
Written by: josean, 8 May 2013 7:25 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016




Fascist Criminal CIA Punk!







Written by: ohhhvictor, 8 May 2013 7:57 PM
From: United States
I didnt see the interview ( sorry, I am busy), but Now I got more questions than answers:

-What happens with the retroactive payment?Is there going to be any as Danilo promised?
-When is going to be the first payment and for how much?
-Any reforestation issues?
-Are they going to pay the fines for smuggling dore?
-When are they going to pay the millions they owe to Dominican state? Arent they?
Are they going to have a water treatment facility to clean the cyanide and mercury?Do they talk about it?
-Employment issues for dominicans?


Anybody got VERY specific answers?
Now I have more doubs than before...where can I see the full WRITTEN report?

Written by: anthonyC, 8 May 2013 8:09 PM
From: United States



Josie,

You do realize that the person who espouse the most fascist views here is YOU?



Written by: Ricardolito, 8 May 2013 8:22 PM
From: Dominican Republic, calle A.Portes
and what happens if the price of gold collapses and the US dollar strengthens ....not that is likely to happen according to allthe experts in the world financial papers who actually are saying gold could have another run and that equities are over priced
Written by: Perception, 8 May 2013 8:47 PM
From: United States
Now, the right thing to do is to use that income to pay the nation credit card.

I guess after all Barrick Gold became an "Honest Institution" and that's a rich legacy.!!!!

Shakespeare.

Written by: Atabey, 8 May 2013 9:30 PM
From: United States, Bring DT Forum Back--



So the REAL profit split was more in line with a 60-40 division and NOT THE CRAZY 99-1, OR 97-3 PERCENT! So many here articulated.

Now that Medina has this revision and more funding upfront, his government programs have greater chance of being put into operation.

Invest the monies wisely and the PLD SUPER Majority will come in 2016.


Hasta la Victoria Siempreeeee!



:)




Written by: Danilo, 8 May 2013 9:55 PM
From: Dominican Republic, SDQ --- Support the repatriation to Africa by CARICOM: www.is.gd/cominghome
It would have been 97 - 3 split through Danilo's term, until Barrick recouped the money spent on the mine.

Good job Danilo!

And joseano was wondering if Danilo had balls. There you go, in your face!
Written by: josean, 8 May 2013 9:57 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


Ms.Vickey nothing was mentioned about the enviorment.

Basically what I got from Marchena's presentation for Saint Danilo is that they are going to accelerate payments 2013 -2016 so the Medina administration has a little coin for his pet projects during his remaining three years!


We got Royally F**KED once again. Nothing has changed since 1492!




Written by: Atabey, 8 May 2013 10:03 PM
From: United States, Bring DT Forum Back--


Josea is not the only eunuchs posting on DT, there is his comrade at arms to consider: DD LOCKS. LOL


Josea might have a heartattack on this news.

Just imagine the campaign for 2016 election cycle!


Josea dreams have been terminated. Lol

Hasta la Victoria Siempreeeee!



PLD SUPER MAJORITY IN 2016!!


:)


Written by: josean, 8 May 2013 10:04 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Lie-onel should go to PRISON for life!

Dam scumbag!

Written by: josean, 8 May 2013 10:10 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



The was a Fight Between a Neo-Liberal Criminal Company and a Failed Narco Neo-Liberal State to see which one can keep more of they have Stolen from the DOMINICAN PROPLE!

.......and the IDIOT PURPLE Clapping Seals are celebrating this Larceny!


Written by: josean, 8 May 2013 10:24 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


Leonel es cínico, camaleón, caudillo, falso y funesto, dice Pedro Catrain

Pedro Catrain no ceja en su enfoque de un Leonel Fernández simulador, mentiroso, cínico, camaleón, que utiliza cualquier argucia para obtener sus objetivos y engañar a sus adversarios.

08 DE MAYO DEL 2013

Servicios de Acento.com.do

Written by: Atabey, 8 May 2013 10:25 PM
From: United States, Bring DT Forum Back--


all the vey to a super majority party in 2016!!


hasta la victoria siempreeeee!




:)



Written by: josean, 8 May 2013 10:35 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


08 Mayo 2013, 07:42 PM

Alburquerque: El nuevo acuerdo Estado-Barrick es malo

Dice que el Estado debe recibir 24 mil millones de dólares y lugar de 11600

SANTO DOMINGO. Aunque el acuerdo a que arribó el Estado con la empresa minera Barrick Gold propicia mayores recursos económicos  para el país con relación al anterior, para el ingeniero Ramón Alburquerque las condiciones planteadas todavía dejan muy por debajo los ingresos que debe recibir la nación por la explotación de la mina de oro de Pueblo Viejo, Cotuí.

De acuerdo con el dirigente del Partido Revolucionario Dominicano, de los 11,600 millones de dólares que el Estado recibiría en el lapso 2013-2016, deberían ser no menos de 24,000 millones de dólares, por cuatro puntos que a continuación explica.

continued:

Written by: josean, 8 May 2013 10:38 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016

Primero: El Estado acepta que se pague con la producción de oro, antes de pagar los impuestos, toda la inversión en el proyecto. En ningún país del mundo se acepta eso. La inversión nunca se traduce en costo y el Estado lo acepta como tal.

Segundo: En ninguna parte del mundo los intereses son costos, y también se aceptan como tal.

Tercero: En los estudios de factibilidad que presentó la Barrick, se establece que el costo de producción por cada onza de oro nunca excederá los 300 dólares, sin embargo ahora lo reportan casi en 600, lo que significa que están casi duplicando el costo y el Gobierno no dijo nada sobre eso.

continued:

Written by: josean, 8 May 2013 10:43 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016

Cuarto: El Gobierno no dijo que asume el derecho de verificar constantemente el costo de producción por onza de oro y los gastos de la empresa.

Al juicio del ingeniero, el haber duplicado los costos de producción por onza de oro le ofrece a la Barrick unos 7,500 millones de dólares que se estaría llevando la minera durante la vida del proyecto.

Pero además, que en los intereses y el pago de la inversión en total hay unos 15,000 millones de dólares, los cuales se sacarían del proyecto sin pagar impuestos."Por eso es que lo único justo hubiera sido que el país recibiera por encima de 24,000 millones de dólares en tres años, y no menos de la mitad como pasa con los 11,600 millones anunciados", manifestó.

continued:

Written by: josean, 8 May 2013 10:45 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


Sobre el 51,3% en beneficio que obtendría el Estado por la modificación del contrato, Alburquerque aclaró que eso incluye la amortización de la inversión, los costos de producción y los intereses, por lo que al final los beneficios se reducirán casi a la mitad.

Entiende que el Gobierno acepta como concepto costos que no son costos y además está renunciando a fiscalizar el costo de producción por onza.


diariolibre.com/movil/noticias_det.php?id=382720




Written by: JHCL2016, 8 May 2013 11:11 PM
From: United States, EN PUNTA CANA: Jose H Con Leonel 2016!


To the contrary, thanks to Leonel we got Barrick to invest over 3 billions dollars with the carrot contract. If not then we would still have the exposed hole left by the Rosario Dominicana with CERO benefits and a huge environmental disaster.

Leonel's vision has given us a WIN-WIN deal with Barrick, WIN $1, they invest their money to make the mine operational again, and WIN #2, we forced them to take less benefits for their high risks.


¡Ahora con much mas pa'lante y Manos a la obra!

(•.•)

Danilo es Presidente, Leonel 2016!
Written by: josean, 8 May 2013 11:16 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Manito you are almost as good as Lie-onel in creating alternative BULL SHIT, I mean reality!


Written by: JHCL2016, 8 May 2013 11:30 PM
From: United States, EN PUNTA CANA: Jose H Con Leonel 2016!


REALITY: It is what it is! DR attracted an international corporation to invest over 3 billions in a lost cause that the DR had not hope or resources to exploit.

THE CAKE: Even before this revision, the DR had received benefits from Barrick just from the initial investment, which as of today, it's still larger than whatever gross amount the extracted gold has produced.

EAT CAKE: And now we get a bigger piece of that cake and already eating it too!

WIN-WIN: Of course, all and only THANKS to Leonel's visionary and strategic planning, Danilo, and El PLD!

See you all in 2016...

( *;@ )

Once again, salieron ABOLLA'O!
Written by: josean, 8 May 2013 11:35 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Manito you could make a mint writing FICTION; you could be the Dominican Stephen King!


Written by: JHCL2016, 8 May 2013 11:56 PM
From: United States, EN PUNTA CANA: Jose H Con Leonel 2016!


Mira, I know it must be tough on you for the PLD's 2016 Aplanadora with extra resources for Part 2 of Metro Line #2 and Line #3, new highways, new schools, new hospitals, new "you mention it".

For that reason, ven a relax un poquito a este non-resort -> locamio.com/ftopic59246 o facebook.com/hotelplazacoral?ref=tn_tnmn

( ';' )

Written by: josean, 9 May 2013 6:00 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



¡Todo Lo Que Brilla No Es Oro!

Every-Thing That Shines Is Not Gold!


Written by: josean, 9 May 2013 6:31 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Neo Liberal Neo Colonialist Theives and their National Lackeys are the only ones who can be Celebrating this continued TREASON!


Written by: Ricardolito, 9 May 2013 8:32 AM
From: Dominican Republic, calle A.Portes
I can not understand the opposition by Josean to this agreement ,it looks as if the chief of staff for Danilo has done an excellent job ...but what are the specific objections of Josean ??
Written by: RoyStone, 9 May 2013 8:43 AM
From: Australia
Nothing changed since 1492 Josean?
Absolutely correct!

The thieving Spaniards took the gold but were too lazy to extract it themselves and forced the Tainos to do it.

Now their descendents are too lazy, stupid or both to extract it, so now the Canadians must do it for them.

I wonder how Barrick's share price is going - maybe not plummeting as fast as the Duminican Republic's credibility?

By the way, how's that bid to join the British Commonwealth of Nations going? Still supporting Argentina's attempt to steal the Falkland Islands?

Written by: BASTA, 9 May 2013 9:33 AM
From: Dominican Republic, =Ghetto/Legalize Drugs/Free abortions for all Never Confuse Education with Intelligence
RoyStone,= 5*****s
Written by: ohhhvictor, 9 May 2013 9:43 AM
From: United States

royStone:
Your super neo colonialism theory is a little bit more than ridiculous.
You are still living in a dream when queen victory own a thirld of the world... as their personal slaves..

Those times are over.
Wake up!
You are in the 21st century..

We are so done with pillage of BG or British neo colonialism booty.. You can go back to your farm Roystone and take with you your sick british empire stories and kangaroos stories to make you happy
Written by: CarlosFranco, 9 May 2013 10:10 AM
From: United States, Brooklyn

glad a deal was struck
Written by: danny00, 9 May 2013 10:14 AM
From: United States, Old Westbury Long Island
Take all of the gold. Mr Hugo. Would have done that
Written by: Gringo_1, 9 May 2013 10:49 AM
From: Dominican Republic, Bring DT Forum Back
Okay, so it increases revenue to the DR by 1.5 billion over 30 years. That equals $50 million more per year. And they pulled future payments to the present as a way to get Danilo cash for his pet projects. Not even really a bone.
Written by: josean, 9 May 2013 10:55 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


Gringo_1,

Correcto MUNDO!


Written by: tatequieto, 9 May 2013 10:57 AM
From: United States, en Delaware-de boca chica
Fair deal in my opinion. What are some of you people complaining for?
Written by: josean, 9 May 2013 11:00 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Not enough to even Rescind the PURPLE TAX-MUGGING!


Written by: juanb, 9 May 2013 11:09 AM
From: Dominican Republic


LF is not smart enough to pull off the plan for which jhcl and ohhhhhbs give him credit. On the contrary, as usual he made a deal to benefit only himself and his thieving cronies. His attitude always was, is, and always will be "F the country, give me mine".
Written by: Atabey, 9 May 2013 12:14 PM
From: United States, Bring DT Forum Back--


Gringo,

But you forgot to give Medina credit for handling this rather delicate matter that had all the ingredients for producing very bad outcomes.

Danilo gets some fiscal space to establish his programs and legacy, while the DR solidifies its international standing with investors. Yes this event demonstrates to all that the political and economic elite, notwithstanding all the explosives of nationalists and environmental plus outright rejectionist a la Josean/opposition camp nuisances will meet their obligations in the end.

The fire has been drenched with a good helping of common sense.


Now, let's get the economy up to speed.


Hasta la Victoria Siempreeee!




2016. PLD Super Majority! !



:)

Written by: synapse, 9 May 2013 12:18 PM
From: United States

The Moral of the story here is that a contract with this Banana Republic isn't worth the paper it is written on regardless of what corrupt politician helped you to get it.
Written by: Atabey, 9 May 2013 1:08 PM
From: United States, Bring DT Forum Back--


Au contraire,


Danilo and the PLD will handle things without the wacky nationalistic and international investor class destroying gambits of the Chavez' of LA.

That's the moral of the story.



This deal offers both sides a win-win situation. DR saves itself from being dumped into that group of Chavista revolutionaries countries; and B gets security for its investors.

At the end of the day, a potentially violent, nationalistic/environmental witches brew was neuter and both country and investors can look forward to better days ahead.


Hasta La Victoria Siempre!!!!



:)


Written by: Gringo_1, 9 May 2013 2:27 PM
From: Dominican Republic, Bring DT Forum Back
Atabey, Agreed!

And now that a new deal has been done the eyes of everyone, I hope we can put this to bed for the next 30 years!
Written by: anthonyC, 9 May 2013 2:42 PM
From: United States



The DR gets 51% for what?



Written by: tatequieto, 9 May 2013 2:56 PM
From: United States, en Delaware-de boca chica
anthonyC
???????????
Written by: josean, 9 May 2013 3:43 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


tatequieto,

Don't bother!


Written by: josean, 9 May 2013 3:59 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


"Danilo and the PLD will handle things without the wacky nationalistic and international investor class destroying gambits of the Chavez' of LA."


So then is Saint Danilo Going to Renounce the "wacky nationalistic" Petro Caribe deal and Pay the Venezuelans what DR Owes and buy back the Refinery with the “New Great Windfall?"





Written by: josean, 9 May 2013 4:57 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016

That Super Majority Fantasy Fades further and further away!


The Dominican People Speak and Say Loud and Clear that Naro Lie-onel Leads the Opposition against Saint Danilo!

SANTO DOMINGO, Dominican Republic.-The former President of the Republic and current President of the Dominican Liberation Party (PLD), LEONEL FERNÁNDEZ AND HIS GROUP OF FOLLOWERS ARE THE LARGEST OPPOSITION to current President Danilo Medina and fellow party member.

“Leonel le hace oposición a Danilo, el PRD no ta´de na´” (SONDEO)

“El mismo grupo de Leonel Fernández dentro del PLD es una camisa de fuerza, están con Danilo cuando les conviene, hacen de la suya de manera encubierta y lo que está haciendo es campaña para Leonel”

See the People Speak at:


acento.com.do/index.php/news/77326/56/Leonel-le-hace-oposicion-a-Danilo-el-PRD-no-ta-de-na-SONDEO.html

I magine what Lie-onel and his Narco Thugs will do now after Saint Danilo has humilated him with Barrick "Stold" "MODEL" Contract!

Written by: GringoRandy, 9 May 2013 6:03 PM
From: Dominican Republic, Santiago
@ricardolito: "I can not understand the opposition by Josean to this agreement..."

You see, our distinguished colleague Josean is a porphyrophobiac ... he has a fear of the color purple. It matters not what the position is, if it is colored purple he will object. And you wonder why he is no diplomat?
Written by: RoyStone, 9 May 2013 6:06 PM
From: Australia
Really ohhhvictor?

Then why are Dominicans sucking British cock and begging to join the British Commonwealth?
Written by: RoyStone, 9 May 2013 6:09 PM
From: Australia
anthonyC,
wonders -
"The DR gets 51% for what?"

squatting
Written by: josean, 9 May 2013 8:53 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



They only thing good about this Fight Aganinst Barrick "Stold" so far is that it has exposed Narco Lie-onel for the CRIMINAL He is!



Written by: Atabey, 9 May 2013 9:18 PM
From: United States, Bring DT Forum Back--


Danilo has 2.2 billion in his treasury to establish his legacy, and Josea is going to have a heartattack as 2016 approahes.

Josea take your meds.


Danilo en la cima!



:)


Written by: josean, 9 May 2013 10:39 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


"2.2 billion dollars will see Medina establish his legacy."

......and to BURY Narco Lie-onel's!

"Josea is going to have a heartattack as 2016 approahes."

......and Narco Lie-onel is Having on RIGHT NOW!


Saint Danilo says "Pay Back is a B¡tch!"
Written by: TontoDominicano, 12 May 2013 9:12 AM
From: Dominican Republic, Santo Domingo
¿Donde meteran la cara los PATRIOTAS que ordenaron la aprobacion en el congreso sin siquiera leerlos los HONORABLES diputados y senadores de TODOS los partidos salvo honrosas excepciones. y el que lo presento, motivo y firmo?????? El lugar seria el que se usa aun en los campos de nuestro pais. Indiscutiblemente una victoria del presidente Medina CORRIGIENDO LO QUE ESTA MAL Y HACIENDO LO QUE NUNCA SE HIZO..Ojala sus actuaciones sigan haciendo realidad su promesa de campaña CON OTRAS COSAS QUE ESTAN PENDIENTES, Y que demuestran que Afortunadamente el pueblo dominicano esta despertando, exigiendo cumplimiento de la ley, y se esta dando cuenta que el verdadero poder esta en sus manos, Eso le debe bastar al presidente, con ese apoyo de la gran mayoria que no militamos en ningun partido y con mas educacion, que crea conciencia el futuro dominicano sera promisorio con la ayuda de Dios y los buenos dominicanos. Ojala la llama de esperanza encendida se mantenga y crezca
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