“Chilean Supreme Court Overturns Environmental Court Ruling in Pascua-Lama Closure Review Process”, 18^th March 2019

…On…March 14, the Supreme Court of Chile annulled the October 2018 administrative decision of the Antofagasta Environmental Court, which had rejected four of the five closure orders issued by Chile’s environmental regulator…in January 2018 against the Chilean subsidiary of Barrick Gold Corporation…that holds the Chilean portion of the Pascua-Lama Project…Barrick’s President and Chief Executive Officer…said that although the Supreme Court’s decision was not helpful in that it delayed a decision on the future of the Pascua-Lama project, the company remains focused on resolving the legal and environmental issues around the project and, in addition to the ongoing remediation work, it had embarked on a technical review of the project parameters and potential.  As part of this work, it has conducted extensive geochemical and geohydrological studies for a water management plan which it was confident would be acceptable to the environmental authority. Bristow…said Barrick’s Chilean assets were an important part of its global portfolio. These include the jointly owned Zaldívar copper mine and the Norte Abierto and Alturas gold projects. Over the past 10 years, the company has spent some $8 billion in the country on exploration and development as well as royalties and taxes, wages and payments to local suppliers…