TORONTO, June 28 Barrick Gold Corp said
on Friday it is slowing construction at its Pascua-Lama gold
project in South America, as it looks to rein in spending on the
severely delayed project, already billions of dollars over
The company said re-sequencing of the project will lead to
significant deferral of planned capital spending in 2013 and
2014. Barrick now expects to reduce capital expenditures on the
project in 2013 and 2014 by a total of $1.5 to $1.8 billion.
Construction at Pascua-Lama, which straddles the border of
Chile and Argentina, was partially halted earlier this year
after a Chilean court ordered a suspension to weigh claims by
indigenous communities that development work had damaged
glaciers and harmed water supplies.