Here is another dilemma between economy and environment. The world’s largest gold mining company, Barrick Gold Corp. of Canada planned to relocate three huge ice fields or glaciers to dig for gold high up on the spine of the Andes Mountains.
It is over the proposed open pit mine, an outcry is kicked up by Oceana, Greenpeace and other environmental groups. But, seeking Chile’s approval for the $1.5 billion Pascua Lama project, Barrick countered the raised concerns with a multimillion-dollar lobbying campaign.
Unfortunate, overlooking the collapsing economy, Barrick appeared to win the latest round on Feb. 15 when a regional Chilean environmental agency approved the mine. The approval is granted apparently as long as the ice remains untouched. How is it possible to dig up the more than 17 million ounces of gold keeping the glaciers undisturbed? It is perhaps, profit worth $9.35 billion at today’s prices, that has risen sharply recently to an average of $550 a troy ounce speak justice!