15:26:41 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,751,981,799
Close 2019-03-19 C$ 17.10
Market Cap C$ 29,958,888,763
Recent Sedar Documents

FP/wire say Chilean court adds to Pasqua-Lama delays

2019-03-19 07:09 ET - In the News

The Financial Post reports in its Tuesday edition that Chile's supreme court Monday cancelled a lower court order to close the Chilean side of Barrick's stalled Pasqua-Lama project, delaying a resolution to a long-running problem. A Reuters dispatch to the Post says that the gold and silver project, which straddles the border of Argentina and Chile in the Andes mountains, has been on hold since 2013 due to environmental concerns, political opposition and labour issues, and costs have surged to $8.5-billion (U.S.). The court annulled the October decision by the environmental court on procedural grounds and remanded the case back to the court for review by a different panel of judges, which could take several months. The court ruling delays a decision on the project's future, Barrick said, noting that it remains focused on resolving the issues. The company has begun a technical review of the project, and has conducted studies for a water management plan that it is confident will be acceptable to the environmental authority. The October environmental court ruling reinforced an order to close the mine by Chile's environmental regulator issued in January, 2018, which also included an $11.5-million (U.S.) fine.

© 2024 Canjex Publishing Ltd. All rights reserved.