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Barrick presents 18-month plan to fix Pascua Lama

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June 12, 2013 10:42 PM EST | AP

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SANTIAGO, Chile — Barrick Gold Corp. says it will take until December 2014 to finish the water management infrastructure demanded by Chile's environmental regulator to revive its $8.5 billion Pascua-Lama mine.

The environmental regulator blocked work on Pascua-Lama in May and fined the world's largest gold miner $16 million, citing "very serious" violations of its environmental permit.

In a document posted on the regulator's website Wednesday, Barrick provided a timeline to meet the requirements. It said it will need to continue some activity at the mine to protect the environment and ensure worker safety.

The regulator replied that Barrick has yet to provide all information needed before its plan can be authorized. It gave Barrick three working days to provide further details on how it will avoid runoff and environmental damage.