Barrick Gold Corp.: Barrick

Barrick: "Some shareholders and analysts have expressed frustration with the project and have asked us about the rationale of proceeding with construction in light of the current environment," Jamie Sokalsky, Barrick's president and chief executive said during a conference call Thursday, according to CTV. After lingering uncertainty over the future of the Pascua-Lama mine, a Chilean court ruled on July 15 that Barrick can resume construction once it has met its environmental promises and TORONTO -- A massive writedown on the Pascua-Lama mine in Chile helped push Barrick Gold Corp. to a second-quarter loss of US$8.56 billion, but the Toronto-based company says it plans to continue the project despite lagging gold and copper prices. "We're about halfway through its development... We have to consider more factors than the last three or four months of price weakness and the volatility in the market when we're evaluating a 25-plus year mine life." (www.immigrantscanada.com). As reported in the news.