Silver Wheaton Corp. SLW has today been notified by Barrick Gold
Corporation ABX that Barrick is currently reviewing a resolution that
it has received on the Pascua-Lama project by Chile's Superintendent of the
Environment (Superintendencia del Medio Ambiente or "SMA").
The SMA requires Barrick to complete Pascua-Lama's water management system in
accordance with the project's environmental permit before resuming
construction activities in Chile and has levied a $16 million fine against
Barrick.
"We remain confident in Barrick's ability to develop Pascua Lama into one of
the world's great gold / silver mines," said Randy Smallwood, President and
Chief Executive Officer of Silver Wheaton. "Barrick has continued to show a
strong commitment to exceeding regulatory compliance and protecting the
environment, and it is worth highlighting that there have been no negative
environmental impacts at Pascua Lama to date. We remain confident in Barrick's
commitment to this project, and look forward to seeing this issue resolved.
Silver Wheaton looks forward to a long term partnership with Barrick on
Pascua-Lama."
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in