Skip to content
Subscriber Only

Barrick to Suspend Work on Pascua-Lama to Conserve Cash

Barrick Gold Corp. will temporarily suspend construction at its $8.5 billion Pascua-Lama mine on the Argentina-Chile border as the world’s largest producer of the metal tries to conserve cash after prices slumped.

Work on the project, located more than 12,000 feet (3,657 meters) up in the Andes mountains, was already partially halted amid a water dispute. All activity except that needed for environmental protection and regulatory compliance will cease, Barrick said today in a statement. It said a restart depends on future costs, gold prices and the regulatory and legal outlook.