Pakistan's top court has ruled against Canada's Barrick Gold Corp and Chile's Antofagasta Plc in a long-running dispute with a provincial government over their right to develop a $3.3 billion copper-gold deposit.The companies were told on Monday that Pakistan's Supreme Court had ruled an agreement by their Tethyan Copper Co joint venture to develop the Reko Diq mine in southwestern Pakistan is invalid, Barrick spokesman Andy Lloyd said.The province of Baluchistan originally signed a deal in 1993 to develop Reko Diq with Australia's BHP, now BHP Billiton Ltd . Antofagasta and Barrick spent $200 million to take over the project in 2006. But the Baluchistan government has refused to convert the exploration permit into a mining license.It was unclear what impact the ruling would have on an international arbitration process now underway to resolve the dispute.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities. Shares of ABX fell by 1.47% or $-0.51/share to $34.09. In the past year, the shares have traded as low as $31.00 and as high as $50.39. On average, 7401830 shares of ABX exchange hands on a given day and today's volume is recorded at 6078863.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities. Shares of ABX fell by 1.67% or $-0.57/share to $33.57. In the past year, the shares have traded as low as $31.18 and as high as $50.33. On average, 2551270 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 1603987.
BHP Billiton Limited is diversified natural resources company. Shares of BHP traded higher by 0.35% or $0.28/share to $79.68. In the past year, the shares have traded as low as $59.87 and as high as $82.23. On average, 2224210 shares of BHP exchange hands on a given day and today's volume is recorded at 2813526.
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