Canadian mining giant Barrick Gold Corporation, which co-owns the Veladero mine in San Juan together with the Chinese Shandong Gold Group, has announced a plan to invest US $ 34 million over the next two years, to extend the deposit's profitability beyond 2028.
Barrick Gold and Shandong Gold, a Chinese company, have signed a strategic co-operation agreement that includes half the Veladero gold mine in Argentina. Shandong has agreed to purchase 50% of the Veladero mine in Argentina for US$960 million, and a joint venture will be created to operate it.
Chilean President Sebastián Piñera has entered the fray surrounding Barrick Gold’s decision to temporarily suspend construction on its troubled Pascua Lama gold mine which straddles up in the Andes along Chile and Argentina, a move which activists slammed as a ploy.
A massive public share offering from Barrick Gold Corp proved a tough sell, market sources said, as the price of gold dropped and investors digested news that the miner had shelved a key growth project
Barrick, the world’s largest gold mining company, is indefinitely suspending construction of its troubled gold mine straddling the Chile-Argentine border, part of a cost-cutting effort that also involves 10 other mining projects around the world.
Chile's Supreme Court confirmed a freeze on Barrick Gold Corp's suspended Pascua-Lama gold mine but the Toronto-based miner escaped having the project's environmental permit revoked. The ruling dispels a significant uncertainty surrounding the controversial project, which now essentially has to complete a water management system issued by the environmental regulator to likely be re-activated.
A Chilean appeals court on Monday formally suspended Barrick Gold Corp’s controversial 8.5 dollars billion Pascua-Lama gold mine until the company meets environmental standards and builds infrastructure that will prevent water pollution.
Chilean President Sebastian Piñera blasted the environmental review process that led to a permit for Barrick Gold’s, now-suspended 8.5 billion dollar Pascua-Lama gold mine project.
Chilean authorities have fined the world's largest gold mining company, Barrick Gold Corp, more than 16 million dollars for environmental offences. Construction at the Pascua-Lama mine, on the border with Argentina, has been suspended until a system to contain contaminated water is put in place.
Canada’s Barrick Gold Corp making a painful adjustment to a sustained slump in bullion prices, reported progress in controlling costs and said it planned further cuts in capital spending.