Barrick Says Cost Of $8.5B Chilean Mine Project Will Grow

Law360, New York (June 4, 2013, 5:31 PM EDT) -- Barrick Gold Corp. said Monday that construction of its $8.5 billion Pascua-Lama mine in Chile would be longer and costlier than expected after Chilean environmental regulators ordered Barrick to complete a state-approved water management system before resuming work.

The Toronto-based company now expects work on the project to last into 2015, according to a filing with the U.S. Securities and Exchange Commission. The delay beyond 2014 is expected to result in an increase in the mine's capital cost.

Chile's environmental agency, known as the SMA, slapped...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.