Barrick Gold is suing Goldcorp over the El Morro copper mine in Chile, the Globe and Mail reported yesterday.
According to the newspaper:
Toronto-based Barrick Gold Corp., (ABX-T44.24-0.39-0.87%) the world’s largest gold producer, is fighting Goldcorp Inc. (G-T46.82-0.59-1.24%)after the Vancouver company scooped up a majority stake in the El Morro development, one of the largest known copper and gold deposits in South America.
Barrick alleges Goldcorp’s deal to buy Swiss miner Xstrata PLC’s 70-per-cent stake in El Morro was done illegally and is suing both parties, along with New Gold Inc., (NGD-T9.09-0.06-0.66%) which has a 30-per-cent stake in the project.
Comments
Dalel Mcrae
Like Barrick Gold does not have enough and has been nothing but the big bully in a global way.
SO is the lust of money and the subsequent attempts to posses all this corporation can , all in the name of being beholden to the shareholders…… call corporate greed what it is….