Mining News - September 2023

Legislative News

 

Resolution No. 099 of the Secretary of Mining and Energy of the Province of Salta, published in the Official Gazette of Salta on September 08, 2023

This Resolution updates and fixes the daily per diem rates for the inspections determined by Law No. 7141 (mining inspections to verify legal obligations). These are:

- Secretary, Coordinator, and General Directors: ARS  9,240.

- Other personnel of the Agency: ARS  8,400.

Resolution No. 348/2023 of the Ministry of Economic Development and Production of the Province of Jujuy, published in the Official Gazette of the Province of Jujuy on September 15, 2023

This Resolution specifies the requirements that local suppliers must comply with to register before the Provincial Registry of Local Suppliers of Mining Producers, created through Decree Agreement No. 8854-DEyP/2023 of the Province. It also establishes that the penalties determined in the decree for those not complying with the contracting conditions will take effect on January 1, 2024.

Decree No. 970/23 of the Government of the Province of Río Negro, published in the Official Gazette of the Province of Río Negro on September 21, 2023

This Decree ratifies the Cooperative Agreement celebrated between the Secretary of State for Energy and the Ministry of Education and Human Rights. It establishes as aim to promote joint programs and projects fostering the sustainable development of energy, mining, hydrocarbons, and their derivative activities.
 

 

Mining in the Media

 

“How much will the company carrying out the Los Azules mining project invest?”, news published in Tiempo de San Juan on September 01, 2023

The Canadian company McEwen Copper announced in a press conference, that by the second half of 2023, they expect to invest approximately USD 70 million in the Los Azules mining project, in Calingasta, Province of San Juan. For the first six months of 2024, the estimated investment is around USD 66 million.

“First export of the Cauchari-Olaroz project”, news published in Página 12 on September 02, 2023

Minera Exar, the mining project formed by the Canadian company Lithium Americas, the Chinese Gangen Lithium, and the Jujuy state-owned company JEMSE, exported lithium carbon for the first time. Cauchari-Olaroz started its production stage in July and became the third operating project in Argentina and the second in the Province of Jujuy. It is expected that by the first quarter of 2024 they will produce the total installed capacity of the plant—40.000  tons—doubling the current production capacity in Argentina.

“Minera Aguilar and a Brazilian company reactivate Potasio Río Colorado, the project Vale left behind”, news published in El Cronista on September 11, 2023

The government of Mendoza announced that the Brazilian company ARG and the Argentine company Compañía Minera Aguilar were chosen to exploit the Potasio Río Colorado (PRC) mine in the south of the province. According to the government, “the contract foresees an investment of USD 1,000 million throughout 5 years, with a compromise to contract with local small and medium sized companies  and hire local manual labor.”

“Gualcamayo mine in San Juan sold to US company”, news published in Mendoza Post on September 12, 2023

The company Mineros SA sold 100% of its shares in the Gualcamayo mine, in Jáchal, San Juan. The buyer was Eris LLC, a US company, and the transaction was closed for USD 4 million.

“Salta: Alpha Lithium presents improvement of Tolillar lithium project's PEA and analyzes future alliances”, news published in Panorama Minero on September 21, 2023

Canada's Alpha Lithium, operator of the Tolillar project, presented this Thursday a series of improvements in its Preliminary Economic Assessment (PEA), while providing an update on the strategic process considering potential alliances with other lithium industry players.

Regarding the initial investment, the CAPEX of the project stands at USD 777 million, including a contingency reserve of USD 179 million for unforeseen events.

“Mining exports will reach USD 4.5 billion in 2023, following lithium peak”, news published in La Nacion on September 22, 2023

Argentina's mining exports will reach USD 4.5 billion in 2023, driven by the production start of a new lithium mine.

“The final number of exports will be closer to USD 4.4 or 4.5 billion in 2023”, said in a recent interview Roberto Cacciola, who has just taken over as president of the Argentine Chamber of Mining Entrepreneurs (CAEM).

“Automotive company Stellantis will invest USD 90 million in Argentina Lithium", news published in Panorama Minero on September 28, 2023

Argentina Lithium & Energía (ALE) announced the signing of a definitive agreement including an investment of USD 90 million by Stellantis, one of the world's leading automobile manufacturers and mobility providers.

ALE and Stellantis will also sign a lithium purchase agreement in which ALE commits to sell Stellantis up to 15,000 tons of lithium per year for seven years.