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Barrick Gold (CN:ABX) has withdrawn plans for building an openpit mine in Chile as part of its border-straddling Pascua-Lama gold-silver project, taking an estimated pre-tax impairment of US$429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

Barrick flags Pascua-Lama writedown Barrick flags Pascua-Lama writedown Barrick flags Pascua-Lama writedown Barrick flags Pascua-Lama writedown 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

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.