Mining News - January 2024

Legislative News

 

Resolution 11 of the Ministry of Mining and Energy of the Province of Salta, published in the Official Gazette on January 3, 2024

This Resolution establishes the Mining Information System of Salta (SIMSa), where social, economic, and environmental aspects of mining activity in the Province must be reported. It also implements the “Socio-Economic Impact Management” module and the “Royalty Management” module for data entry.

Resolution 12 of the Ministry of Mining and Energy of the Province of Salta, published in the Official Gazette on January 03, 2024

This Resolution updates the fixed fee value for all third-category mineral quarries to ARS 11,500 per year per hectare or fraction.

Resolution 37 of the Provincial Directorate of Water Resources of the Province of Jujuy, published in the Official Gazette on January 19, 2024

This Resolution updates the fee for water use from public domain for mining purposes. It establishes that concessionaires and permit holders of water use for mining must submit a “Monthly Sworn Statement” before the Provincial Directorate of Water Resources, reporting the total use for the period to be paid within the first ten days.

Resolution 36 of the Provincial Directorate of Water Resources of the Province of Jujuy, published in the Official Gazette on January 22, 2024

This Resolution updates the fees and royalties for extracting, exploiting, and transporting inert material and their application within the provincial limits, as well as penalties for offenders.

Decree 3263 of the Ministry of Energy and Environment of the Province of Mendoza, published in the Official Gazette on January 23, 2024

This Resolution approves the organizational structure of the Ministry of Energy and Environment established through Law 9501. This Ministry is responsible for designing, planning, and implementing the Province's hydrocarbon, mining, and energy policies.

General Resolution 1/2024 of the Public Registry of Commerce, published in the Official Gazette on January 25, 2024

This Resolution repeals General Resolution IGJ 1/2022, which had established that the duration of companies could not exceed 30 years from their registration before the Registry. Consequently, temporal limits on the duration of companies were removed.

Resolution 664 of the General Irrigation Department of the Province of Mendoza, published in the Official Gazette on January 30, 2024

This Resolution updates the taxation regime for using water for oil and mining purposes, among other matters.

General Resolution 2/2024 of the Public Registry of Commerce, published in the Official Gazette on January 31, 2024

This Resolution amends article 67 of General Resolution IGJ 7/2015 by establishing that categories of legal acts comprising the corporate purpose of a company will not need to be connected or related to each other. It also repeals article 68 of General Resolution IGJ 7/2015, which established that the Registry could demand an initial capital stock greater than the minimum established in article 186 of the General Companies Law 19550, considering the characteristics or nature of the corporate purpose.

General Resolution 3/2024 of the Public Registry of Commerce, published in the Official Gazette on February 2, 2024

This Resolution eliminates companies’ obligation to submit complete transcripts of minutes to register acts before the Registry (article 37 of Resolution IGJ 7/2015), establishing that they may register only the relevant parts concerning the act to be registered.

Tax Obligations Law 106 of the Province of Chubut, published in the Official Gazette of Chubut on January 4, 2024

This Law updates the values of tax obligations, including those of the Environmental Impact Assessment Fee, for different stages and types of projects, in accordance with the corresponding legislation. Additional fees are also specified for updates to reports and modifications to the original project.

Tax Obligations Law - Law    106 of the Province of Chubut, published on January 4, 2024, in the Official Gazette of Chubut

This Law establishes the Annual Fee for Environmental Management Control for companies and industries engaged in various activities, such as mining, fishing, and slaughterhouses, among others.

 

Mining in the Media
 

“Lithium: the two main mineral exporting companies in Argentina merged at global level,” published in La Nacion on January 1, 2024

The merger between Australia's Allkem and the US's Livent was approved. The new company will be called Arcadium Lithium, making it one of the world's leading lithium chemical derivatives. In 2022, it had total combined revenues of USD 1900 million and a global team of over 2,600 employees.

“An Indian company bets on Argentine lithium and invests USD 2.5 million in Catamarca,” published in El Cronista on January 4, 2024

The Indian company Kabil invested USD 2.5 million to start a lithium exploration project in Fiambalá, in the Province of Catamarca. It will sign an exploration and development agreement with the local company Camyen, thus joining the list of foreign companies that seek to ensure the supply of the input and decide to carry out  their projects in Argentina.

“The Altar project, with strong investment in exploration,” published in Conciencia Minera on January 5, 2024

The Canadian company Aldebaran Resources made an investment of USD 20 million in the Altar project, located in the Department of Calingasta, San Juan. This investment will be used to carry out an exploratory campaign that seeks to drill a total of 20,000 meters with four active rigs to search copper in a new zone of the mine.

“Lithium production had a year-on-year growth of 68.4% in November,” published in Telám on January 9, 2024

The production of carbonate and other lithium minerals grew 68.4% in November 2023 compared to the same month of 2022, as reported by the National Institute of Statistics and Census (Indec). The Institute included this data in the Mining Production Index report.

“Three copper mining projects will be launched in Malargüe with an investment of USD 20 million,” published in Cipolletti Digital Noticias on January 12, 2024

The mining company Geometales will start up three copper mining projects in the next months in the Department of Malargüe, Mendoza, with an expected investment of USD 20 million. The mining projects are El Burrero, Las Choicas, and La Adriana. In El Burrero, 23 exploratory wells will be drilled, with a depth of between 400 and 750 meters, to determine the geophysical profile and evaluate the geological potential of the deposit, within an exploration area of 650 hectares.

“Millionaire investment by a Canadian company in its Argentine gold mine,” published in El Cronista on January 24, 2024

Lindero, the first gold mine in Salta, will receive an investment of USD 64 million this year, which will be used to improve processing and to move towards renewable energies. The disbursement will be made by Fortuna Silver Mines with its subsidiary, Mansfield.