Barrick suspends Andes construction

Barrick Gold said yesterday it is suspending construction at its Pascua-Lama mine in South America, a surprise reversal on a project that has already cost billions after years of delays and cost over-runs. The world’s top gold producer also reported lower third-quarter earnings, hurt in part by a drop in the price of gold. Earnings attributable to shareholders fell to $172m (£107m) in the third quarter from $649m a year earlier. Revenue dropped to $2.99bn from $3.4bn.