Had workers on strike, they would have affected the construction a the water management system, which is the main condition imposed by Chilean authorities to allow Barrick restart work at the mine.
Barrick Gold Corporation Mining News
One of Canada’s most important entrepreneurs, Barrick Gold’s founder and chairman Peter Munk is turning 86 today, at a time of major challenges for his company and the industry.
Delivering its Q3 results, the debt-laden gold miner said it is temporarily suspending all construction activity at its $8.5 billion Pascua-Lama project.
The miner faces extra-costs caused by unusual factors, such as venomous snakes, shellfish traps and submerged fence posts by its Lake Cowal gold mine in Australia.
Pascua Lama's union to vote whether to accept Barrick's wage offer this week.
Ruling leaves the door open for new lawsuits against the Toronto-based miner.
Company lawyer asks Chilean court to ratify its July verdict, when it officially halted all operations in the project.
The South American nation is home to 30% of the world's known copper reserves.
Miner did not rule out the possibility of partnering with another company or a government to help finance the project.
In the wake of lower prices for gold and copper.
Chilean indigenous group that has led the legal battle against Barrick wants the Supreme Court to order a new environmental impact assessment study.
It was cut down from $16 million to $12 million.
Besides receiving the highest possible fine under Chilean law, Barrick construction work has been halted.
Construction on the Chilean side of the troubled gold and silver project has been halted since April 10.
Construction activities in the Argentine side of the project won't be affected by today’s resolution.
Stock loses a fifth of its value on Tuesday.
Golden Sunlight Mine near Whitehall is owned by Barrick Gold Corp. of Canada.
Local residents continue to blockade the roads into and out of the Pierina mine in Peru's Huaraz Province in support of demands for water rights. The mine is operated by Barrick Misquilchilca, a subsidiary of Barrick Gold.
Zambian Finance Minister Alexander Chikwanda told reporters today that the government will invest USD 120 million to rehabilitate a railroad line between the largest producer of copper in Africa and South Africa.
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Canadian mining company Barrick Gold Corp. (ABX, ABX.T) is hoping to extend the mine life at its Peru operations as it aims to increase reserves through exploration projects, said Darrell Wagner, the general manager of local subsidiary Minera Barrick Misquichilca SA.
Barrick Gold Corp. (TSX:ABX) increased its quarterly dividend by 33%, as the company announced Wednesday a 3% increase in its first-quarter profit.
Operations at Barrick's Porgera open pit gold mine, in Papua New Guinea, resumed this morning after the government decided to send troops to the site last week, under a troop call-out order from 2009 still in effect.
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick") announced today the pricing of $2.0 billion in debt securities comprised of: $1.25 billion of 3.85% notes due 2022 and $750 million of 5.25% notes due 2042. The offering is expected to close on or about April 3, 2012.
The two largest gold companies are bracing for a Canadian court's decision on who owns the massive El Morro copper-gold deposit in Chile.