Chile’s Environmental Agency Puts the Brakes on Planned 2014 Production at Barrick’s Pascua-Lama Project

Bloomberg reported that Barrick Gold has announced that production at Pascua-Lama project will not begin in the latter half of 2014 as had been planned, and will be postponed because of concerns from Chile’s Environmental Agency.

As quoted in the Bloomberg report:

The delay at the mine on the border of Chile and Argentina is expected to lead to higher capital costs, the Toronto-based company said yesterday in a filing. Barrick raised the cost estimate for the project twice last year, to as much as $8.5 billion, and said output would be delayed by more than a year from its previous forecast.

To view the whole Bloomberg report, click here.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Bullion
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Otis-Gold-LogoOtis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.

Leave a Reply