Before the latest ruling, Pascua Lama was supposed to begin production in the second half of 2014, but now even that seems in doubt. The suspension ordered by the court does not specify a time period for the same so it could be days, weeks or even months before work can resume on the Chilean side.
|The Pascua-Lama project is located on the border of Chile and Argentina, in the Frontera district at an elevation of 3,800 to 5,200 meters. The Mine is set to open in 2014, and to produce 850,000 ounces of gold a year. Pascua-Lama has proven and probable reserves of 17.9 million ounces of gold, with 676 million ounces of silver contained within the gold reserves.|
The mine will use up to 38 tonnes of explosives a day, 27 tonnes of cyanide and 33 million litres of water to extract the gold.
In 2009, the project was expected to cost $3-billion. Now the final cost is expected to be $8.5-billion.