Barrick pays $140m to settle Pascua-Lama lawsuit

Barrick Gold (TSX, NYSE:ABX) has agreed to pay $140 million to resolve a US class-action lawsuit that accused the world’s largest gold producer of distorting facts related to its mothballed $8.5 billion Pascua-Lama project in South America.

Barrick confirmed the agreement disclosed in papers filed on Tuesday in Manhattan federal court, adding that the settlement is insured. In a statement the Toronto-based company said it “continues to believe that the claims alleged by the lead plaintiffs in the litigation are unfounded, and under the terms of the settlement agreement, the company has not accepted any charges of wrongdoing or liability.”   Read more

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