ARTICLE

Mining News

April 1, 2010

Province of Corrientes

Resolution No. 144/2010, enacted by the Water and Environment Institute of the Province of Corrientes on 03/31/2010 (Published in the Official Gazette on 04/05/2010)

Provides that the term of the Concession and Exploitation of Sand Right to be granted by the Water Institute of the Province of Corrientes will be identical to the term established for the National Statement issued by the Argentine Water Paths Administration

Province of Tucuman

Law No. 8,262, enacted by the House of Representatives of the Province of Tucuman on 03/23/2010 (published in the Official Gazette on 04/09/2010

Provides a Stamp Tax exemption, as from April 30, 2010, for all active financial operations (and accessories) performed through the Public Savings Account (Caja Popular de Ahorros) of the Province of Tucuman and through financial entities included in the Federal Law No. 21,526 (as amended) regime, in connection with the credit lines duly approved by said entities, destined exclusively and specifically to the financing of productive activities of the -agricultural, industrial, mining, and construction sectors developed in the Province of Tucuman, by gross income tax-payers in said activities. Likewise, the Stamp Tax exemption includes insurance contracts executed by entities authorized by the Argentine Insurance Authority, covering risks related to specific activities of the agricultural, industrial, mining and construction sectors developed in the Province of Tucuman, by gross income tax-payers in said activities.

Province of Rio Negro

Resolution No. 475/2010, enacted by the General Water Authorities on 03/30/2010 (Published in the Official Gazette on 04/08/2010)

Provides the formula for the calculation of water royalties in connection with various industries, among them, the mining industry.

Province of Catamarca

Resolution No. 144/2010, enacted by the Water and Environment Institute of the Province of Corrientes on 03/31/2010 (Published in the Official Gazette on 04/05/2010)

Instructs the Municipal Executive Branch to carry out a Discretionary Referendum under binding terms on 05/25/2010, for citizens over 18 years-old to vote YES or NO in connection to development and/or exploitation of open-cut metal mining large-scale projects within the City of Andalgalá. For further information regarding this regulation see: "Court of justice of the province of Catamarca suspends referendum in the city of Andalgalá".

This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.