OTTAWA (dpa-AFX) - Barrick Gold Corp. (ABX), Monday announced the International Centre for Settlement of Investment Disputes arbitration process, initiated under the binding Mining Conventions between Barrick subsidiaries and the State of Mali, is fully underway.
The company added that the arbitration tribunal has been formed and it has submitted a request for provisional measures to prevent further escalation and safeguard its rights.
The announcement comes as the Bamako Commercial Tribunal has decided to place the company's Loulo-Gounkoto complex under temporary provisional administration.
The company expects the tribunal to help uphold the rights of its employees, protect shareholder value, and defend legal framework under which it operates.
The recent move also marks Barrick's commitment to resolve the issues with the Government of Mali through engagement based on mutual respect, legal certainty, and a shared interest to maintain a long-term partnership.
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