GOLD: Barrick faces lawsuit in U.S. over Pascua-Lama

MANHATTAN, New York – A U.S. district judge ruled on April 1, 2015, that shareholders of Toronto-based Barrick Gold may pursue a class action suit based on what shareholders allege was Barrick's deceit about environmental problems associated with the Pascua-Lama gold project that straddles the border of Chile and Argentina.

The same judge dismissed charges alleging the mining company intentionally mislead shareholders about cost overruns and production delays.

The plaintiffs are seeking damages for the period between May 7, 2009, when Barrick said it was ready to begin construction at Pascua-Lama, through Nov. 1, 2013.

Meanwhile, more than 15 million oz of gold and 675 million oz of silver at Pascua-Lama will remain in the ground. (Barrick.com)