Thursday, 23 July 2020

Barrick Gold has an overrun of US $ 8 billion on The Plant "PASCUA-LAMA" (Chile) that they have not been able to build for 20 years? ? It's true?

From the series of publications 
"So they create a fairy tales for the investor"
"They draw up the necessary documents
and begin to search for the simpleton..."   

Plant project "PASCUA-LAMA" (Chile, Argentina)
 
Owners: 100 % Barrick Gold Corp. (Canada)

Barrick Gold has an overrun of US $ 8 billion on The Plant  "PASCUA-LAMA" (Chile)  that they have not been able to build for 20 years? ? It's true?
Barrick Gold plant "PASCUA-LAMA" in Chile has not produced a single ounce of gold or silver for 20 years.


Mark Bristow, CEO said:  "Barrick Gold owes:
  • US $ 443 million to the Treasury of Chile, plus $ 340 million in interest.
  • US $ 253 million to the Wheaton Precious Metals Corp (amount as of December 31, 2018)

All these obligations are added to the amount Barrick actually disbursed in a project "PASCUA-LAMA" that in its beginnings, almost 20 years ago, cost about US $ 950 million, but which ended with an overrun of over US $ 8 billion."

 Where was the money spent?

 IMHO, The copper and gold content of the ore is very low. It is lower than the outboard content on some mine.

Ph.D. Natalia Petrovskaya 



  References
  1.  https://www.elmostrador.cl/mercados/2019/02/15/barrick-gold-devolvera-783-millones-de-dolares-al-estado-chileno-por-suspension-de-pascua-lama/
  2.  https://miningdataonline.com/property/165/Pascua-Lama-Project.aspx
  3.  https://www.barrick.com/English/home/default.aspx
  4.  https://ejatlas.org/conflict/proyecto-de-oro-y-cobre-cerro-casale-aldebaran-chile

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