According to Mining.com, Chile’s environmental authority — SMA — has ordered the permanent closure of Barrick Gold’s already idled Pascua-Lama project, but lowered the fine for violations to $11.5 million) from the previous $16 million it had charged the company.
The Argentinian side of the project is not affected.
SMA’s move was based on the analysis of 33 charges, five of which warranted total closure sanctions. The allegations include impacts on protected flora and fauna, incomplete monitoring of glaciers and spilling acid solution into a river.
Pascua-Lama would generate about 800,000 to 850,000 ounces of gold and 35 million ounces of silver per year in the first full five years of its 25-year life, if it ever comes into production, according to Mining.com