Although to some extent the recent Court of Appeals decision is a defeat for the Western Shoshone (as it reversed an earlier stay on expansion by Barrick Gold of its major Cortez gold mine in Nevada), it is still part of ongoing legal actions. Also, although expansion can continue, US regulators must respond to a new appeals court order to better assess potential impacts. They further agreed with the tribe that the Bureau of Land Management (BLM) failed to adequately consider the projects’ cumulative impacts on the Shoshone, although the claim that the BLM fulfilled its duty to consult the tribe is somewhat surprising.
Barrick is a Canadian company but London-based AXA Investment Managers UK Ltd had over $10 million invested in the company in 2007, BlackRock Commodities Income Trust plc has invested in the company, and the company also has connections with Millhouse Capital, controlled by London resident Roman Abramovich, and New City Investment Managers Ltd/NCIM (UK). (See From Money to Metals by Roger Moody,