07:32:12 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,608
Close 2015-01-02 C$ 12.86
Market Cap C$ 14,977,651,159
Recent Sedar Documents

Globe says Barrick's Chilean appeal dismissed

2015-01-02 07:09 ET - In the News

The Globe and Mail reports in its Thursday edition Chile's top court will not hear its appeal of a lower-court decision regarding sanctions imposed on the company's Pascua-Lama project by the country's environmental regulator. A Dow Jones dispatch to The Globe says the court ruled Barrick is not a party to the case. The Supreme Court rejected the appeal on procedural grounds because the original action was brought against the government regulator. The environmental regulator will now re-evaluate the fines it imposed on the project, Barrick said. Chile's environment court earlier found that the environmental regulator did not properly determine fines against Barrick for permit infractions in 2013. Barrick argued the fines were calculated based on applicable law and commonly accepted legal principles and therefore sought to appeal the decision to the supreme court. Chile's environmental regulator fined the company about $16-million (U.S.) in May, 2013, citing environmental violations at the gold-silver project straddling the Chile-Argentina border. Barrick halted the project later that year. Barrick closed Wednesday at $12.52, down eight cents on the Toronto Stock Exchange.

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