Work is stopping on the Pascua-Lama site in the Andes. According to the Financial Times, the decision has been taken following 'a series of legal disputes and clashes with local politicians over access rights and the environmental impact of mining a site that sits at high altitude close to glacial formations'. It has already had to pay numerous fines to the Chilean authorities as a result of breaches of environmental rules. Regarding the future of the mine, one of the largest deposits of gold and silver in the world, Jamie Sokalsky, chief executive, said: 'The decision to restart will depend on improved project economics such as go-forward costs, the outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements.'
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