Barrick Gold Reaches Terms in Principle with DR for Pueblo Viejo

Mining Weekly reported that Barrick Gold has reached an agreement in principle with the Dominican Republic in regards to the lease for Pueblo Viejo.

As quoted in the Mining Weekly report:

Among the main points the parties could agree to were the elimination of a 10% return embedded in the initial capital investment for the purposes of the net profits tax of 28.75%; an extension to the period over which PVDC would recover its $3.8-billion capital investment; a delay of application of net profits interest (NPI) deductions; and a reduction in depreciation rates.

To view the whole Mining Weekly report, click here.