Commodities & Metals
Barrick Gold, Silver Wheaton Shares Halted: Chile Blocks Project, Fines Miner $16 Million
Published:
Last Updated:
In addition to the halt to construction, Barrick has been ordered to pay a fine of $16 million for admitting that it had failed to build systems to contain contaminated water associated with the project. The company said in its press release announcing first quarter results that it is evaluating “all alternatives” for the Pascua-Lima mine, including a shutdown of the project.
Silver Wheaton has a contract with Barrick for delivery of 170 to 200 million ounces of silver from Pascua-Lima’s silver resources, which have been estimated at 676 million ounces. If Barrick cannot meet its contract terms with Silver Wheaton, the mining company may be forced to purchase silver in the futures market in order to meet its contract price of $3.90 an ounce.
This is horrible news for Barrick. Shares were off just 0.5%, at $19.75, before the stock was halted.
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.