Canada’s Barrick Gold Corporation has been given a maximum fine in Chile and had a project stopped until the company follows through with a promise to contain contaminated water at the Pascua-Lama project.
Barrick was fined 8 billion pesos (approximately US$16 million). The decisions were made by Chile’s environmental agency Superintendencia de Medio Ambiente (SMA).
Forbes reported that shares of the company were halted Friday (May 24) New York when news broke “indicating the Chilean government had forced the company to “paralyze” its operations in Pascua Lima, one of the largest gold and silver resources in the world.”
In a press release Friday, Barrick Gold outlined the fine and decision, and added: “The company is in the process of reviewing the SMA resolution in detail. Barrick is fully committed to complying with all aspects of the resolution and to operating at the highest environmental standards.”
More information:
Global News – Chile fines Canada’s Barrick Gold Corp. $16M for environmental violations – here
Forbes – Barrick Gold Fined $16M For Environmental Problems At $5B Pascua Lima Project In Chile – here
Barrick Gold press release on fine – here
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