NEWS

Barrick Denied Use of Canadian Information in New Orleans Suit

April 14 (Bloomberg) -- Barrick Gold Corp., accused by a New Orleans coin dealer of manipulating the price of gold, can't introduce at trial interviews conducted in its Canadian libel suit against the dealer, a Louisiana state court judge ruled.

Coin dealer Blanchard & Co. accused Barrick and JPMorgan Chase & Co. in a 2002 lawsuit of trying to drive down the price of gold and profit from the decline through a hedging program. Toronto-based Barrick sued Blanchard in Ontario, Canada for libel.

Barrick said transcripts of interviews conducted for the libel case are relevant to the New Orleans case. Ontario law restricts the use of evidence only to the proceedings for which it was obtained. Louisiana state Judge Daniel Knowles rejected the request because the libel case evidence could be shared improperly with JPMorgan, which isn't part of the Canadian suit.

``What Barrick suggests here is patently unfair,'' Knowles wrote in a decision posted on the court's Web site today. He said Barrick wanted to conduct a ``fishing expedition in the Canadian libel action discovery pool.''

Barrick's lawyers interviewed Blanchard Chief Executive Donald Doyle for 10 days in connection with the libel case. Neal Ryan, a Blanchard spokesman, has been interviewed over the past three days, Knowles said. Such extensive examination is not allowed under U.S. rules, he said.

The case is Civil Action No. 02-3721 filed in the Eastern District of Louisiana.

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