Barrick says work to begin on huge open-pit mine in Andes

Canadian mining giant Barrick says that in September it will begin work on Pascua Lama, a huge, open-pit gold and silver mine high in the Andes that will straddle the border of Argentina and Chile. The announcement came this month after Argentine President Cristina Kirchner met with Aaron Regent, Barrick’s chief executive, in Buenos Aires. Barrick says the US$2.8 to 3 billion project marks the biggest foreign investment ever by a Canadian company. Project plans call for annual production of 700,000 ounces of gold and 25 million ounces of silver over 25 years. The mining site, high in the Andes, is partly within Chile’s Atacama region and Argentina’s San Juan province. Barrick has pledged the project will create 5,500 jobs during the construction... [Log in to read more]

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