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Eight of Barrick Gold’s (NYSE/TSX:ABX) Australian subsidiaries have received fines totaling AUD$127,000 for failure to lodge required documents with the Australian Securities and Investments Commission (ASIC).
According to ASIC’s statement the eight companies failed to submit group financial reports, directors reports, auditors reports or a concise report over a near five year period from 1 May 2007 to 9 March 2012.
The companies all pleaded guilty to a total of 15 offences and were convicted on August 27 in the Perth Magistrate’s Court.
The eight companies, all of which are public subsidiaries of Barrick in Western Australia, are Barrick (Cowal) Ltd, Barrick (Plutonic) Ltd., Barrick (Lawlers) NL, Barrick (Darlot (NL), Barrick (Australia Pacific) Ltd., Barrick Mining Company (Australia) Ltd., Barrick (PD) Australia Ltd. and Grants Patch Mining Ltd.
2 Comments
Jorge Daniel Taillant
I suppose these fines really hurt Barrick’s office coffee budget for these subsidiaries, they’ll have to go to Folgers Crystals next year?
Lawrence
I think that is good for a strict law of the country as other countries have to learn from you on this issue.