Finance > Capital-markets

Barrick flags Pascua-Lama writedown

Barrick Gold (CN:ABX) has withdrawn plans for building an openpit mine in Chile as part of its border-straddling Pascua-Lama gold-silver project, taking an estimated pre-tax impairment of US$429 million in the process.

Staff reporter

Finance > Capital-markets

Barrick flags Pascua-Lama writedown

Barrick Gold (CN:ABX) has withdrawn plans for building an openpit mine in Chile as part of its border-straddling Pascua-Lama gold-silver project, taking an estimated pre-tax impairment of US$429 million in the process.

Staff reporter

Barrick flags Pascua-Lama writedown

Barrick says an underground operation at Pascua-Lama would be less susceptible to weather-related production impacts during the winter season

valledelhuasco - https://www.panoramio.com/photo/72328260

The announcement follows Chile's Superintendencia del Medio Ambiente (SMA) ordering the closure of existing infrastructure on the Chilean side of the project last month.