A draft bill to protect Argentina’s glaciers edges closer to being passed, thus jeopardising Barrick’s proposed Pascua Lama gold mine and other projects.
However, one of the country’s constitutional experts points out that Barrick “could demand hundreds of millions of dollars in compensation from the Argentine government because these mining activities were not banned when they made these investments.”
See http://www.minesandcommunities.org/article.php?a=10330.
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, http://moneytometal.org/index.php/From_Money_to_Metals.)