Dominican Minister of Mines dismisses rumours that link Barrick’s advanced payments to tailings dam approval – by Valentina Ruiz Leotaud ( – November 29, 2020)

The Dominican Republic’s Minister of Energy and Mines, Antonio Almonte, rejected rumours that linked Barrick Gold’s recent $108-million advanced tax and royalty payment to the possible approval of a tailings dam at the Pueblo Viejo operation.

In a TV interview broadcasted over the weekend, Almonte said that the advanced payment was the result of negotiations led by the ministry of finance and the national government’s economic team, with the goal of addressing the current fiscal deficit that is a direct consequence of the slowdown caused by the covid-19 pandemic.

Barrick’s disbursement included advance payment of income tax, net profit interest and royalties, adding an advance payment of the royalty for the year 2021 estimated at $47 million.

This is the fourth tax payment Pueblo Viejo has made so far this year and brings its contribution to the Dominican government for 2020 to $385 million.

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