PASCUA LAMA Mining News

Barrick to pay $20 million to settle Pascua-Lama arbitration case

Lawsuit was filed last year after the miner halted payments due to a local group.

Barrick mulls selling part of Peru mine, bringing partner — report

Rumours come a year after the gold miner vowed to spend $640 million to extend the life of Lagunas Norte, worth about $1.4 billion according to industry experts.

Chile’s Supreme Court casts shadow over Barrick’s plans to restart Pascua-Lama

The country's mining regulator will have to issue a new temporary closure plan for the project, including comments from other government offices.

Here's the latest scoop on Barrick's projects

The company is focusing on assets with the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021.

Barrick’s gold output fell almost 10 percent in 2016

But lower all-in sustaining costs mitigated the impact of decreased production, preliminary full-year figures show.

Barrick Gold brings in new director to regain strength in Latin America

The gold producer said the region will play an increasingly important role in its growth strategy.

Barrick appoints new exec to restart Argentine side of Pascua-Lama

George Bee will assume as vice president of the Argentine side of the project effective Sep. 12.

Barrick Gold swings to quarterly loss, but trims debt further

The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.

Barrick’s fourth CFO in five years may be what shareholders were waiting for

Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.

Barrick Gold chairman John Thornton takes a 76% pay cut

He will receive $3.4 million for his work in 2015, including compensations and pension, a significant reduction from the almost $13 million he pocketed in 2014.

US judge rules Barrick Gold must face group lawsuit over Pascua-Lama mine

Class action claims that Barrick repeatedly and knowingly misled shareholders about whether Pascua-Lama complied with environmental regulations.

Barrick announces ‘drastic revision’ of Pascua-Lama, may add partner

Analysts believe that Barrick’s partner in Papua New Guinea, Zijin Mining Group, could be the one to help turn Pascua-Lama into a success.

Chile’s court confirms 2nd highest fine in history for Caserones mine

The copper mine, property of Japan's top smelter JX Nippon Mining & Metals, will have to pay $10.8 million for breaching environmental rules.

Barrick braces for up to $3 billion in writedowns

The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.

Former BlackRock mining fund manager joins Barrick Gold

Catherine Raw, from one of the UK mining sector's best known fund managers, is assuming as the company's Business Performance Executive Vice President.

Majority of Barrick’s shareholders rejects compensation plan

As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.

Barrick begins sale of stake in Chile’s Zaldivar copper mine

Chinese companies, private equity firms including Mick Davis’s X2 Resources, and even Teck Resources are rumoured to be among the potential buyers.

Barrick faces fresh opposition to executive pay plan

The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.

Chile to fine Barrick over ten new environmental violations

The country's Superintendence for the Environment (SMA) also said the miner has not properly monitored the impact on nearby glaciers.

Chile's court says Barrick’s Pascua-Lama has not damaged glaciers

The country's Environmental Court handed Monday a major victory to Barrick’s besieged Pascua-Lama gold, copper and silver project, straddling the border with Argentina.

Chile imposes 2nd highest fine in history to Pan Pacific Caserones mine

Japan's top smelter, Pan Pacific Copper, will have to pay $11.9 million for breaching several environmental rules.

Silver Wheaton extends Barrick’s deadline to fulfill Pascua Lama silver deal

In the meantime, the miner will receive silver produced at three other Barrick operations in South America.

Chile’s Supreme Court won't hear Barrick appeal on Pascua Lama fine

The court refused to consider the appeal on procedural grounds. Chile's environmental regulator will now have to re-evaluate the administrative fines for over $16 million it imposed on the project.

Barrick names new executive director for Pascua-Lama

The news come only a day after the project executive director in Chile, Eduardo Flores, told local media that Barrick was hopeful it could find a way forward with the long-delayed mine.

Barrick to push ahead with Pascua Lama, ‘no margin for error’

Finishing the project would take time and around $4 billion more of what Barrick has already invested.