Barrick Can't Stop Rivals' $4B Chilean Mining Project Buy

Law360, New York (June 27, 2012, 6:59 PM EDT) -- An Ontario Superior Court judge denied Barrick Gold Corp.'s bid to nullify the purchase of a $4 billion gold and copper mining project in Chile by two Canadian gold mining companies, ruling Tuesday that the miners properly exercised a right of first refusal to purchase the project.

The ruling nixes Barrick's suit seeking to block Goldcorp Inc.'s acquisition of 70 percent of the El Morro mining project from a subsidiary of New Gold Inc., which holds the remaining 30 percent stake.

Barrick initially acquired a majority...
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