Santo Domingo.- While a Chamber of Deputies special commission on Thursday announced consultations on the proposed revision of Barrick Gold’s contract to exploit the mine at Pueblo Viejo, (central), its local CEO Victor Manuel Rocha warned that is expects the Dominican Government to honor the agreement .
"In the very month of November 2009, president Leonel Fernandez promulgated the contract as an agreement between the Dominican government and Barrick Pueblo Viejo and because of that we have made a mega-investment in developing the mine, as stipulated, and the two sides arranged it," Rocha said.
He said they’ve also been clear on that the contract was negotiated in a process that lasted nearly two years, the government and the company, as well as experts from Europe, specifically France and the IDB. "The experts, after a quite long and responsible process, presented the company a tax formula that the company accepted. It was signed in June 2009 and was sent to Congress and five months later the contract negotiated with all sectors was ratified by lawmakers."
Push for revision gathers steam
But in the latest development in the flap, Deputy Justice Commission president Demosthenes Martinez said the lawmakers will hear representatives from the Customs Agency, Environment Ministry, Academy of Sciences and universities on the proposed revision of the Barrick Gold contract.
From: Germany, Koblenz, Rheinland-Pfalz
A contract is an agreement between two parts, and it has prevalence and compromise remain.
Any conflicts or unclear points should be revised and made clear as a matter of transparency (!)
Written by: zooma, 8 Feb 2013 8:11 AM
From: United States
More bad press for the Dominican government. This renegotiation only goes to confirms the vacuum of inteligence that exists in government.
The contract was two years in the making and ratified by the lawmakers late in 2009. Then, "Years after approval, Dominican lawmakers read Barrick Gold contract" === DT Feb. 7. (three years after) They approve contracts without reading them. This country gets what it elects and the fallout from it.
Honor the contract because the renegotiation will become a stalemate and the process will go to the world court. The RD will lose, more money and country's resources thrown into a black hole.
Who would want to invest in the RD if this circus is allowed to parade into the arena of banana republic stereotype ?
From: Dominican Republic, calle A.Portes
It does seem to me that the Dominicans have not handled this very well ,,Surely a renegotiation is best made when there has been a breech of contract , or when a clause makes certain renegotiatons fall due or when the government introduces a new general tax that would impact on Barrick .. All I have heard so far is that the price of gold has increased substantially , enabling the companyto right off its investments more quickly , so the sharing and tax provisions should start earlier. Cool heads are needed
From: United States
falconbridge came with the same lame story...
Balaguer honor the agreement so they can keep working,,
But forbid the exportations..
in the agreement there were many parts unsolved and Dominicans wont make a dime: work, environmentally, price of gold,toxic, benefits,etc
BG got the most unrealistic contract EVER! Technically speaking , under those terms, BG wont have to pay ANYTHING to the dominican state not now , not after 5 years..
If they dont do ANYTHING positive to my country, what the HELL are they doing in DR ?
From: Dominican Republic
So the contract was with the Congress for 5 month in 09 and they are only reading it now????
"If they dont do ANYTHING positive to my country, what the HELL are they doing in DR ?"
Is this a joke question?
Will a 4 word answer do? Making money, money, money!
Money for them and their friend that signed the first contract...
Written by: Atabey, 8 Feb 2013 10:06 AM
From: United States, NYC
"because of that we have made a mega-investment in developing the mine,"
Investments were made to exploit the mines and prepare the grounds. The toxic disaster left by ROSARIO Dominicana was also part of the clean up. There are many groups, from Marxist and leftist, Nationalist, and environmentalist of every bent coming out to take their shot against this deal.
Transparency in negotiations has to become de facto in agreements because the overwhelming number of people are and have been poorly informed; some will NEVER agree to being informed-so its an enormous problem and points toward the Banana Republic markings people brand our country. Justifiably at times.
Heed the warnings: DR is a small country that NEEDS OUTSIDE CAPITAL INVESTMENTS AND EXPERTISE. If it losses the tag of a RESPONSIBLE PARTNER, it stands to lose more than those who would park their investments in the country-these cats can go elsewhere, even Cubita eventually and do business.
Written by: Atabey, 8 Feb 2013 10:22 AM
From: United States, NYC
"the contract was negotiated in a process that lasted nearly two years, the government and the company, as well as experts from Europe, specifically France and the IDB. "The experts, after a quite long and responsible process, presented the company a tax formula that the company accepted."
Make these records public records so that people can read and understand what went on. Too many people believe the issue one of IMPOSITION from aboard: that OUTSIDERS merely FORCED THE DR INTO THESE NEGOTIATIONS AND TERMS.
More transparency might help ease these views.
The Marxist and others might NEVER agree to them, but others might be more open minded.
From: United States
Atabey: We got some serious disagreement for the first time:
"The toxic disaster left by ROSARIO Dominicana was also part of the clean up."
The Rosario dominicana NEVER spreed the cyanide and mercury in all the rivers y la Presa de hatillo like Barrick is doing right now.That is a simple fallacy
"Transparency in negotiations has to become de facto in agreements " The contract had everything but transparency..The only thing clear is the looting and bad intentions.
One thing is investment and the other one is PILLAGING without ANY REAL BENEFITS to D.R. because it was part of a VERY dubious contract..
Not to mention the environmental impact to Cibao Valley
"these cats can go elsewhere" If they dont do a responsible pact with dominican people where BOTH parties get some benefits,and they clean the mess they leave behind in all the rivers and hatillo, they are so free to leave,because we are NOT a Banana republic no more..
Written by: josean, 8 Feb 2013 10:28 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Lie-onel is an accused criminal, therefore any contract that he had his PURPLE Paws on should be reviewed as a matter of principal.
This contract doesn't have the support of the majority of the Dominican people who are the true sovereigns of the country.
The elected officals should respect the wishes of their bosses the Dominican people and nationalize the mine period.
Written by: Atabey, 8 Feb 2013 10:32 AM
From: United States, NYC
Vic,
I'm merely stating what everyone has established as a fact: when under the Guzman Administration the government of the DR took over the Gold mine operation from Falcon Bridge, the operation became a toxic mess. DR had nor has the expertise and capital resources to manage such an operation of the scale. I wish we had, but we don't.
DR has to be VERY careful that it doesn't go the Argentine and Venezuela route, those countries are huge and in the case of Venezuela a massive oil resource has cushioned their mismanagement. We don't have that luxury and need to develop our mining resources to pay RENTS for our modernization and development.
DR must be a responsible partner or suffer the consequences.
That doesn't mean that all is lost; it simply means that it act and take this matter to calm deliberations and the whole Populist Mantra be exposed for its ulterior goals and anti-capitalist leanings.
From: Dominican Republic
Vic..."Transparency in negotiations has to become de facto in agreements " The contract had everything but transparency..The only thing clear is the looting and bad intentions."
Fernandez lauds Barrick’s investment to extract gold
7 February 2012,
Dominican Republic. - President Leonel Fernandez on Tuesday defended the Government’s contract with the miner Barrick Gold, which is poised to extract gold in Pueblo Viejo, Cotui (northeast).
I expect this (as before) will be ignored by the person with love of LF but in denial of his hand in this....
Written by: josean, 8 Feb 2013 11:17 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
"DR has to be VERY careful that it doesn't go the Argentine and Venezuela route".
Yes it should go the route of Saudi Arabia;Nationalize and Aramco!
Written by: hputters, 8 Feb 2013 11:18 AM
From: Trinidad and Tobago, Port of Spain
The point is those who want to open it want to get more money out of it. Agreement is agreement signed and sealed. They had to read before they signed. Tipically Dominican attitude. Paper is to wipe your a.. with.
The Dominican Republic does not have the knowledge and financials to even think of exploration themselves. Nobody would even think of financing it internationally.
Written by: josean, 8 Feb 2013 11:23 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
stillhere,
Now IDIOT IRS Atabey and Ms. Vickey the mutual PURPLE jock sniffers are at odds and they say nothing about how thier Narco God, Lie-onel sold the country out!
Written by: josean, 8 Feb 2013 11:30 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
"Nobody would even think of financing it internationally."
That's scare tactics BULL SHIT!
Nationalize it and put out a call for international bids and there won't be enough runways for the corporate jets to land, including the Thieves from Barrick "Stold!"
From: United States, FREEPORT, Long Island.... ((You're blind to the fact that you're blind))
So far contracts that leo put his hands on, are nulled and voided.....ForgetAboutit if he gave them a handshake, his word and handshakes don't mean anythang.....
Written by: simondc3, 8 Feb 2013 12:03 PM
From: United States
The proceeds of the renegotiated terms ought to be shared appropriately to invest/build long lasting, sustainable infrastructure and local industries.
Even though is likely not to be used that way given govt officials greed/cronyism, it is still good for the sovereignty of DR alone.
When Balaguer forced Barrick to renegotiate in 1986, gold was at ~US$350/oz, a 20% increase from a year earlier and >100% increase from the time of the initial contract signed allowing exploitation of that country's resource.
During Lionel's 1st term as president the avg price of gold was still US$360/oz and US$825/oz during the 8yrs of his 2nd term, representing a gold/oz appreciation anywhere between 100% to 475% depending on when he signed the Barrick exploitation contract.
To acquiesce and not demand to renegotiate would be welcoming to be labeled no smarter than aborigenes in 1492 or aborigenes in Australia today.
Written by: Danilo, 8 Feb 2013 12:35 PM
From: Dominican Republic, www.DuckyDeals.com
I say that if Leonel is found guilty of corruption all contracts should be renegotiated--not just this one--since it was not in the best interest of the country but of one individual.
From: Dominican Republic, calle A.Portes
Just look at the pathetic logic from Josean LF is an accused criminal so all contracts should be reviewed ..Now I can accuse many people of being criminals but it has no weight in whatthose people may have contracted.
Now the next one , the majority of people do not support the contract and want the mine nationalised ...So the elected representatives do not run the country and must ask the population before making any decision ,
Neither I nor any other person knows wha tthe majority want ...but I am sure that natiionalisation with all its aftershocks would not figure in the minds of anyone with the slightest intelligence .
I am wondering if Josean is just a counter agent always trying to produce strife for the DR ...his postings would lead to that conclusion
Written by: josean, 8 Feb 2013 12:44 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Danilo I am proud of you for taking that joseanesque principaled position!.
To bad Ms. Vickey and IDIOT IRS Atabey have not yet seen the need for light of Transparency!
From: Dominican Republic
snafu
From: Dominican Republic, calle A.Portes
can not see any mention of Danilo here ,,,has Josean read something else and what principals is Josean talking about as he set none out here except in another page where he wants nationalisation ,,,some principal!!!!!!!!!
Written by: josean, 8 Feb 2013 8:06 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
IDIOT read:"Written by: Danilo, 8 Feb 2013 12:35 PMFrom: Dominican Repubulic DuckyDeals.com
I say that if Leonel is found guilty of corruption all contracts should be renegotiated--not just this one--since it was not in the best interest of the country but of one individual."
Your so stupid!
Written by: RoyStone, 9 Feb 2013 1:03 AM
From: Australia
How "transparent" were the negotiations before the Duminican government signed the Concordat with the Holy See? Duminican protests about that would fit into a small confessional box!
Written by: josean, 9 Feb 2013 1:24 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Roy,
I am sure you have heard of Trujillo and his strong dislike for dissenting and dissenters!
Written by: RoyStone, 9 Feb 2013 2:31 AM
From: Australia
True, Josean,
but Trujillo has been gone half a century yet the Concordat is still in force.
Written by: josean, 9 Feb 2013 2:52 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Due to the betrayl of Juan Bosch the atheist by his protege, Narco Lie-onel the Criminal Opportunist!
From: United States
8 Febrero 2013, 11:20 PM
Diputados están ‘enteramente’decididos a revisar contrato
Presidente de la Cámara Baja dijo que esperan que la Barrick Gold acepte un diálogo con el Gobierno
Escrito por: WELLINGTON DIAZ
SANTIAGO. El presidente de la Cámara de Diputados, Abel Martínez, advirtió ayer que los legisladores pondrán en marcha todos los mecanismos disponibles en el orden jurídico nacional e internacional en caso de que no exista una negociación armoniosa con Barrick Pueblo Viejo, porque, según reiteró, los congresistas están enteramente decididos a que sea revisado el contrato de explotación de oro.
Explicó que las condiciones en las que fue aprobado ese contrato, al día de hoy han cambiado, por lo que, según el legislador por Santiago, se impone y espera que así sea que de manera amigable los ejecutivos de la minera inicien un diálogo con el Gobierno, con el objetivo de que el país obtenga mejores beneficios.
POR FIN !
Written by: josean, 9 Feb 2013 9:53 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Yet Narco-Lie-onel is still on the side of Barrick Stold!
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Any conflicts or unclear points should be revised and made clear as a matter of transparency (!)
More bad press for the Dominican government. This renegotiation only goes to confirms the vacuum of inteligence that exists in government.
The contract was two years in the making and ratified by the lawmakers late in 2009. Then, "Years after approval, Dominican lawmakers read Barrick Gold contract" === DT Feb. 7. (three years after) They approve contracts without reading them. This country gets what it elects and the fallout from it.
Honor the contract because the renegotiation will become a stalemate and the process will go to the world court. The RD will lose, more money and country's resources thrown into a black hole.
Who would want to invest in the RD if this circus is allowed to parade into the arena of banana republic stereotype ?
falconbridge came with the same lame story...
Balaguer honor the agreement so they can keep working,,
But forbid the exportations..
in the agreement there were many parts unsolved and Dominicans wont make a dime: work, environmentally, price of gold,toxic, benefits,etc
BG got the most unrealistic contract EVER! Technically speaking , under those terms, BG wont have to pay ANYTHING to the dominican state not now , not after 5 years..
If they dont do ANYTHING positive to my country, what the HELL are they doing in DR ?
So the contract was with the Congress for 5 month in 09 and they are only reading it now????
"If they dont do ANYTHING positive to my country, what the HELL are they doing in DR ?"
Is this a joke question?
Will a 4 word answer do? Making money, money, money!
Money for them and their friend that signed the first contract...
"because of that we have made a mega-investment in developing the mine,"
Investments were made to exploit the mines and prepare the grounds. The toxic disaster left by ROSARIO Dominicana was also part of the clean up. There are many groups, from Marxist and leftist, Nationalist, and environmentalist of every bent coming out to take their shot against this deal.
Transparency in negotiations has to become de facto in agreements because the overwhelming number of people are and have been poorly informed; some will NEVER agree to being informed-so its an enormous problem and points toward the Banana Republic markings people brand our country. Justifiably at times.
Heed the warnings: DR is a small country that NEEDS OUTSIDE CAPITAL INVESTMENTS AND EXPERTISE. If it losses the tag of a RESPONSIBLE PARTNER, it stands to lose more than those who would park their investments in the country-these cats can go elsewhere, even Cubita eventually and do business.
"the contract was negotiated in a process that lasted nearly two years, the government and the company, as well as experts from Europe, specifically France and the IDB. "The experts, after a quite long and responsible process, presented the company a tax formula that the company accepted."
Make these records public records so that people can read and understand what went on. Too many people believe the issue one of IMPOSITION from aboard: that OUTSIDERS merely FORCED THE DR INTO THESE NEGOTIATIONS AND TERMS.
More transparency might help ease these views.
The Marxist and others might NEVER agree to them, but others might be more open minded.
"The toxic disaster left by ROSARIO Dominicana was also part of the clean up."
The Rosario dominicana NEVER spreed the cyanide and mercury in all the rivers y la Presa de hatillo like Barrick is doing right now.That is a simple fallacy
"Transparency in negotiations has to become de facto in agreements " The contract had everything but transparency..The only thing clear is the looting and bad intentions.
One thing is investment and the other one is PILLAGING without ANY REAL BENEFITS to D.R. because it was part of a VERY dubious contract..
Not to mention the environmental impact to Cibao Valley
"these cats can go elsewhere" If they dont do a responsible pact with dominican people where BOTH parties get some benefits,and they clean the mess they leave behind in all the rivers and hatillo, they are so free to leave,because we are NOT a Banana republic no more..
Lie-onel is an accused criminal, therefore any contract that he had his PURPLE Paws on should be reviewed as a matter of principal.
This contract doesn't have the support of the majority of the Dominican people who are the true sovereigns of the country.
The elected officals should respect the wishes of their bosses the Dominican people and nationalize the mine period.
Vic,
I'm merely stating what everyone has established as a fact: when under the Guzman Administration the government of the DR took over the Gold mine operation from Falcon Bridge, the operation became a toxic mess. DR had nor has the expertise and capital resources to manage such an operation of the scale. I wish we had, but we don't.
DR has to be VERY careful that it doesn't go the Argentine and Venezuela route, those countries are huge and in the case of Venezuela a massive oil resource has cushioned their mismanagement. We don't have that luxury and need to develop our mining resources to pay RENTS for our modernization and development.
DR must be a responsible partner or suffer the consequences.
That doesn't mean that all is lost; it simply means that it act and take this matter to calm deliberations and the whole Populist Mantra be exposed for its ulterior goals and anti-capitalist leanings.
Fernandez lauds Barrick’s investment to extract gold
7 February 2012,
Dominican Republic. - President Leonel Fernandez on Tuesday defended the Government’s contract with the miner Barrick Gold, which is poised to extract gold in Pueblo Viejo, Cotui (northeast).
I expect this (as before) will be ignored by the person with love of LF but in denial of his hand in this....
"DR has to be VERY careful that it doesn't go the Argentine and Venezuela route".
Yes it should go the route of Saudi Arabia;Nationalize and Aramco!
The Dominican Republic does not have the knowledge and financials to even think of exploration themselves. Nobody would even think of financing it internationally.
stillhere,
Now IDIOT IRS Atabey and Ms. Vickey the mutual PURPLE jock sniffers are at odds and they say nothing about how thier Narco God, Lie-onel sold the country out!
"Nobody would even think of financing it internationally."
That's scare tactics BULL SHIT!
Nationalize it and put out a call for international bids and there won't be enough runways for the corporate jets to land, including the Thieves from Barrick "Stold!"
Even though is likely not to be used that way given govt officials greed/cronyism, it is still good for the sovereignty of DR alone.
When Balaguer forced Barrick to renegotiate in 1986, gold was at ~US$350/oz, a 20% increase from a year earlier and >100% increase from the time of the initial contract signed allowing exploitation of that country's resource.
During Lionel's 1st term as president the avg price of gold was still US$360/oz and US$825/oz during the 8yrs of his 2nd term, representing a gold/oz appreciation anywhere between 100% to 475% depending on when he signed the Barrick exploitation contract.
To acquiesce and not demand to renegotiate would be welcoming to be labeled no smarter than aborigenes in 1492 or aborigenes in Australia today.
Now the next one , the majority of people do not support the contract and want the mine nationalised ...So the elected representatives do not run the country and must ask the population before making any decision ,
Neither I nor any other person knows wha tthe majority want ...but I am sure that natiionalisation with all its aftershocks would not figure in the minds of anyone with the slightest intelligence .
I am wondering if Josean is just a counter agent always trying to produce strife for the DR ...his postings would lead to that conclusion
Danilo I am proud of you for taking that joseanesque principaled position!.
To bad Ms. Vickey and IDIOT IRS Atabey have not yet seen the need for light of Transparency!
IDIOT read:"Written by: Danilo, 8 Feb 2013 12:35 PMFrom: Dominican Repubulic DuckyDeals.com
I say that if Leonel is found guilty of corruption all contracts should be renegotiated--not just this one--since it was not in the best interest of the country but of one individual."
Your so stupid!
Roy,
I am sure you have heard of Trujillo and his strong dislike for dissenting and dissenters!
but Trujillo has been gone half a century yet the Concordat is still in force.
Due to the betrayl of Juan Bosch the atheist by his protege, Narco Lie-onel the Criminal Opportunist!
Diputados están ‘enteramente’decididos a revisar contrato
Presidente de la Cámara Baja dijo que esperan que la Barrick Gold acepte un diálogo con el Gobierno
Escrito por: WELLINGTON DIAZ
SANTIAGO. El presidente de la Cámara de Diputados, Abel Martínez, advirtió ayer que los legisladores pondrán en marcha todos los mecanismos disponibles en el orden jurídico nacional e internacional en caso de que no exista una negociación armoniosa con Barrick Pueblo Viejo, porque, según reiteró, los congresistas están enteramente decididos a que sea revisado el contrato de explotación de oro.
Explicó que las condiciones en las que fue aprobado ese contrato, al día de hoy han cambiado, por lo que, según el legislador por Santiago, se impone y espera que así sea que de manera amigable los ejecutivos de la minera inicien un diálogo con el Gobierno, con el objetivo de que el país obtenga mejores beneficios.
POR FIN !
Yet Narco-Lie-onel is still on the side of Barrick Stold!