Here it is translated Sooshie:
"While having lunch with President Cristina Fernandez Argentine and U.S. businessmen at the Council of the Americas, New York, Minister Julio de Vido met in that city with the chairman of Barrick Gold Peter Munk.
The number one gold giant confirmed to the Planning Minister that the company will invest $ 6,500 million this year in developing the Pascua-Lama.
The miner said that the investment schedule for the project, has been meeting in accordance with the provisions and their operation is scheduled for 2013, said in a statement.
During the meeting, De Vido-Munk, both parties addressed the role of the Federal Organization of the United Mineworkers (OFEMI) as a link between the national government, provincial governments and companies to develop sustainable mining.
For its part, the operator reported that launched the Department of Import Substitution for the development of suppliers of each sector projects, an initiative promoted by the Ministry of Planning, through the Ministry of Mining, and claimed by CFK on several occasions.
Subsequently, the head of Planning held a meeting with Vice President of Yamana Gold, Patrick Portmann, as recorded in the statement.
In this case, gave an overview of all projects to the mining firm has in Argentina, like Gualcamayo in San Juan.
De Vido, who was supported at both meetings by the Secretary of Mining, Jorge Mayoral, accompanying the President in connection with his trip to New York where he attended the meeting yesterday of the Decolonization Committee of the United Nations.
Source: Telam
06/15/2012"
6500 million is 6.5 billion, how can Peter Munk say that Barrick will spend that amount of money this year ?
In view of Barrick's continued "Business as Usual stance",there are only three possibilities that come to my mind.
1) We have been squabbling over a piece of ground that really does only have value as a tailings dump and access. Barrick has said and continues to say that they do not need these lands to mine the deposit. I do not see them changing their position on this point.
2) Barrick has found another huge mineral deposit in the area of their claims and fully intends to bring it into production next year.
3) Barrick will dig up the guanaco and moose pastures and then announce to the world that they miscalculated the mineral wealth of the area.
These are my thoughts GP, what are yours ?
