Barrick accepts Pascua-Lama closure order

20th September 2020

By: Creamer Media Reporter

     

Font size: - +

Gold major Barrick has accepted the Antofagasta Environmental Court’s decision to uphold the closure order and the sanctions that Chile’s environmental regulator imposed on Compañía Minera Nevada, the Barrick subsidiary that holds the Chilean portion of the Pascua-Lama project.

The company said that the ruling drew a line under a legal process that started in 2013 and that it would not appeal the order.

Construction was suspended that year and Pascua would now be transitioned from care and maintenance to closure in accordance with the Environmental Court’s decision.

Following the ruling, Marcelo Álvarez, Barrick’s executive director for Chile and Argentina, said Pascua-Lama remained an important project and work was already under way to re-evaluate its potential. This involved a comprehensive internal review of its technical, economic and social aspects, as well as different approaches to permitting and development should the ongoing studies delivere a project that met Barrick’s investment filters.

He confirmed that any new project development would comply with current legislation in Chile and Argentina.

“Barrick is a very different company since its merger with Randgold and we now have a strong focus on establishing good relations with the communities and authorities,” he said.

“Barrick sees great potential in a region that has always encouraged the development of sustainable mining projects, and is committed to further investment in Chile and Argentina and to building productive partnerships with the government, business associates and communities.  As elsewhere in the Barrick group, we will ensure that the economic benefits we create are shared equitably with our stakeholders and that our operations are conducted with due care for health, safety and the environment.”

While the project was suspended, Pascua-Lama continued to treat and monitor water quality in order to meet its environmental commitments. The Environmental Court acknowledged that none of the earlier infringements which prompted the closure order had caused irreparable damage.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION