Barrick fined for failing to lodge documents

Canadian mining giant Barrick Gold has been fined $127,000 by the corporate regulator for failing to lodge required documents.

The Australian Securities and Investments Commission today said eight subsidiaries of Barrick had failed to lodge one or more important documents, including financial reports, director’s reports or auditor’s reports.

A total of 15 offences were laid by ASC.

The subsidiaries cover a number of Barrick operations in Western Australia, including the Plutonic, Lawlers and Darlot mines.

“This matter demonstrates the ongoing focus ASIC has on companies that fail to uphold their reporting responsibilities which severely compromises the transparency around a company and limits shareholders’ ability to make informed decisions,” ASIC commissioner Greg Tanzer said.

“These obligations are important and ASIC will not hesitate to pursue companies who disregard them.”