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Barrick Gold To Pay $16 Mln Fine To Chile For Pascua-Lama Violations

Barrick Gold Corp. (ABX,ABX.TO: Quote), a producer of gold and copper, announced that Chile's Superintendence of the Environment (Superintendencia del Medio Ambiente or 'SMA') imposed a fine of approximately $16 million for violations of the Chilean environmental approval for its Pascua-Lama project.

On Friday, Barrick Gold was halted around noon in New York, received a resolution from SMA that requires the company to complete the Pascua-Lama's water management system in accordance with the project's environmental permit before resuming construction activities in Chile.

"Barrick is fully committed to complying with all aspects of the resolution and to operating at the highest environmental standards," the company said in a statement

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by RTT Staff Writer

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