Barrick Gold Shares Drop Following Loss of Legal Battle in Argentina

Financial Post reported that Barrick Gold shares fell 63 cents on Wednesday, closing at $38.87 following a decision by Argentina’s Supreme Court to remove injunctions that blocked key parts of a law that protects glaciers.

As quoted in the report:

The ruling Tuesday could have a major impact on Pascua Lama, the world’s highest-altitude gold mine being developed on both sides of the Chile-Argentine border. Barrick said the $5-billion project already has found nearly 18 million ounces of proven gold reserves, more than the company’s Veladero mine, another open-pit mine nearby that is already in production.

Click here to read the full Financial Times report.