| During the commodity boom, capital cost blowouts became so routine in the mining industry that they became a running joke. Analysts and investors just assumed costs would be much higher than the companies’ projections, and they were usually right.
One extreme example was Barrick Gold Corp.’s Pascua-Lama mine, which was budgeted at just US$1.5 billion in 2004. Barrick spent more than US$5 billion before halting the unfinished project in 2013. If Pascua-Lama ever gets completed, the ultimate cost could exceed US$10 billion...............................................Full Article: Source
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