Barrick to take smaller, phased approach to Argentina-based Pascua-Lama project

Major miner Barrick Gold has appointed former executive George Bee to lead the development of a smaller, phased operation at its stalled Pascua-Lama project, straddling the Chile/Argentina border, the company said Thursday. Barrick had halted the project in 2013 after investing $5-billion in it. As well as permitting issues, cost overruns and a sharp drop in bullion prices, it faced the strong and organised opposition of the local indigenous communities.