Friday, March 12, 2010

Barrick Gold (TSE:ABX) Wants Xstrata Added to Lawsuit

Barrick Gold, Xstrata, New Gold, Goldcorp

Barrick Gold (TSE:ABX) has been fighting for what it believes is its right to a property in Peru, and have filed a lawsuit against Goldcorp (NYSE: GG) and New Gold (AMEX: NGD) for control of the property. They have now requested that Xstrata, based in Switzerland, to be added ot the suit.

The reason Xstrata is being requested to be added to the lawsuit is Barrick claims they backed out of a deal which would have ended up with the mining property in their hands.

The case centers around a first right of refusal, which had expired for New Gold, which made it illegal to sell the property to Goldcorp, based on a shareholder agreement.

Barrick Gold, Xstrata, New Gold, Goldcorp

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