Planned layout of the Pascua-Lama gold mine that would have straddled the border of Chile and Argentina. (Image: Barrick Gold)
CHILE – Last week the Chilean environmental court ordered Toronto-based Barrick Gold to permanently close its Pascua-Lama gold project that lies within the country. The company was told in January 2018 to close the project and fined US$11.5 million by the Chilean environmental regulator.
Development was put on hold in 2013 due to environmental concerns, political opposition, labour unrest and ballooning costs. Last week’s court decision merely rubber stamped the earlier ruling.
The Pascua-Lama gold project straddles the Chile-Argentina border high in the Andes Mountains. The deposit is believed to contain 21.3 million oz. of gold in its measured and indicated resources.
Visit www.Barrick.com for information on Barrick’s other operations and its proposed acquisition of Randgold.