Barrick Presents 18-month Plan To Fix Pascua Lama

SANTIAGO, Chile (AP) â¿¿ Barrick Gold Corp. says it will take until December 2014 to finish the water management infrastructure demanded by Chile's environmental regulator to revive its $8.5 billion Pascua-Lama mine.

The environmental regulator blocked work on Pascua-Lama in May and fined the world's largest gold miner $16 million, citing "very serious" violations of its environmental permit.

In a document posted on the regulator's website Wednesday, Barrick provided a timeline to meet the requirements. It said it will need to continue some activity at the mine to protect the environment and ensure worker safety.

The regulator replied that Barrick has yet to provide all information needed before its plan can be authorized. It gave Barrick three working days to provide further details on how it will avoid runoff and environmental damage.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Stocks

Market Can't Handle the Wild Ride: Cramer's 'Mad Money' Recap (Thursday 5/24/18)

Market Can't Handle the Wild Ride: Cramer's 'Mad Money' Recap (Thursday 5/24/18)

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit