The main problem appears to be the water management systems at Pascua Lama, El Mercurio reported.
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The Pascua Lama project is located in the Andes Mountains, between Chile and Argentina.
FORBES: Barrick Gold Fined $16M For Environmental Problems At $5B Pascua Lama Project In Chile
Morgan (JPM) from underweight to neutral due to uncertainty surrounding the Pascua Lama project.
The brunt of the project is located in Chile while the rest of Pascua-Lama is in Argentina.
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Apart from completing the Pascua Lama project, the focus in the future will be on advancing projects in Nevada.
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The Canadian company was forced to suspend work recently on its Pascua Lama mine on the Chilean side of the high altitude Andes.
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Based on the sheer size and rising costs associated with the Pascua-Lama project, there has been considerable attention from investors to analysts to media.
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Before the latest ruling, Pascua Lama was supposed to begin production in the second half of 2014, but now even that seems in doubt.
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The company expects to have the Pueblo Viejo and Pascua-Lama mines in full operation next year, contributing about 1.4 million ounces of annual production at low costs.
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Pascua-Lama is projected by Barrick to provide an average of 800, 000 to 850, 000 ounces of gold and 35 million ounces of silver in its first full five years of production.
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The project would involve the building of five dams on two fast-flowing rivers that run into the Pacific - two on the river Baker, and three on the river Pascua.
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The Pascua-Lima project, located in the Andes Mountains between Chile and Argentina, has been partially detained as a Chilean court of appeals granted an injunction to suspend construction activities in early April.
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According to CEO Jamie Sokalsky, the increase in total construction cost at Pascua Lama can be split approximately equally between the impact of the delay of first gold production to the second half of 2014, increased labor hours and installation rates.
FORBES: Barrick Gold Faces Fresh Setback With Mega Mine In Chile
Smallwood pointed to Pascua Lama coming on stream at the end of 2014, Constancia coming on stream at the end of 2014, Salobo reaching 24 million tons per year by the end of 2014 and Rosemont which he thinks will be up and running by the end of 2015.
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