The Pascua Lima project is located in the Andes Mountains, between Chile and Argentina. Barrick had already announced its operations in Chile were halted in its latest earnings release, as the company was assessing environmental and regulatory requirements, while negotiating with a court of appeals. Barrick has invested nearly $5 billion in Pascua Lima, which holds almost 18 million ounces of proven and probable gold reserves and 676 million ounces of silver.
The main problem appears to be the water management systems at Pascua Lima, El Mercurioreported. The open-pit mining project has the potential to contaminate water in the area, and according to the Chilean government, Barrick hasn’t taken the proper precautions, precautions it had agreed to previously.
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