The Phaserl


Chilean regulators levy record US$16m fine for Pascua-Lama violations

[Ed. note: Just another nail in Barrick’s coffin, with the removal of the world’s largest planned gold mine from their portfolio, as we first reported in this exclusive interview several weeks ago.]

Barrick’s apparent failure to accurately and completely self-report environmental violations at its Pascua-Lama project has cost the mining giant more time and money.

by Dorothy Kosich,

Chile’s Environmental Superintendent Juan Carlos Monckeberg Fernandez has levied his agency’s maximum fine, eight billion pesos or US$16 million on a Barrick subsidiary for a “serious breach and four serious violations” at the massive Pascua-Lama project.

The environmental superintendent ordered all other construction work on Pascua-Lama be halted until Barrick completes Pascua-Lama’s water management system.

In a statement, Barrick said it is “fully committed to complying with all aspects of the resolution and to operating at the highest environmental standards.”

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