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3/14/16

Argentina: Barrick fined for the Veladero cyanide spill (from IKN357)

Just  small snippet from the Weekly out yesterday. Because context is important, not just money.
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Argentina: Barrick fined for the Veladero cyanide spill
Back in September when a pipe rupture at Barrick’s (ABX) Veladero mine caused 1.15m litres of cyanide solution and a series of negligent work practices (including leaving a water diversion gate open instead of leaving it closed, which would have diverting the accidental flow to the mine’s tailings facility) to pollute four different local rivers, Miguel Martín, head of communications at Barrick Argentina stated the following (12):

"They're saying that the local water supply is contaminated but that is completely false. We don't have any contaminated water anywhere".

Last week when accepting to pay a ArgP$145.7m fine (U$9.3m at current rates) and hours after nine of its employees were formally charged by the Argentine courts, Barrick Argentina stated the following (translated) (13):

We deeply regret this incident and hope, from this point forward, to reconstruct a pathway of trust with the community, the province of San Juan and Argentina.”

And people outside of LatAm, while chowing down on the free buffets offered up by country chambers of mining at suit-filled get-togethers, wonder why these mining companies have such a bad reputation with local communities.