Reasons for Dismissal of Proceeding
3. In summary, the dismissal of the proceeding was based on the following findings:
3.1. Duplicity of proceedings: Barrick had filed a Request for Conciliation dated 8 th July 2020 (RFC) pursuant to the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States, 1965. It will be heard by the International Centre for Settlement of Investment Disputes (ICSID).
3.2. Duplicity of proceedings: Barrick (PD) Australia Pty Ltd had initiated arbitration proceedings to have the dispute arbitrated before an International Arbitration Tribunal.
3.3. The initiation and maintenance of the proceeding was without prior consent and approval of its partner Mineral Resources Enga Limited (MRE) under the Joint Venture Agreement.