ARTICLE
Mining News
January 1, 2010
"Empresa australiana desembolsa U$S 200 M en un proyecto minero", published in BAE (Buenos Aires) on 01/08/2010.
The Australian mining company, Andean Resources announced a 200 million dollar investment on the second semester of 2010, to build the gold and silver Project Cerro Negro, in the northern area of the Province of Santa Cruz. The project is located 130 kilometers away from the town of Perito Moreno, the closest one to the deposit. The first stage will require over 20 months of activity and will include the building of the deposit, the processing plant, the camping facilities and civil works. The company expects to invest AR$ 115 million for local infrastructure works, such as the road and the electric line with sub-stations for AR$ 80 million, which will contribute to the development of other local productive activities. According to official estimations, the building of the project will create over 1,500 direct and indirect jobs for at least 70 local companies supplying related services to mining. Once the building of the deposit ends, a 300,000 gold ounce and 3 million silver ounce annual production is expected, creating over 1,000 direct and indirect jobs, according to the information provided by the businessmen.
"Inversión en Santa Cruz", published in La Nación (Buenos Aires) on 01/08/2010.
The Australian mining company Andean Resources announced a 200 million dollar investment for the development of the Cerro Negro Project, located in the northern area of the Province of Santa Cruz. The project will create over 1,500 jobs and contracts for 70 national companies.
The Australian mining company Andean Resources announced a 200 million dollar investment for the development of the Cerro Negro Project, located in the northern area of the Province of Santa Cruz. The project will create over 1,500 jobs and contracts for 70 national companies.
"Automotriz Magna compra acciones de minera que opera en Argentina", published in El Cronista Comercial (Buenos Aires) on 01/13/2010.
The Austro-Canadian car company Magna purchased shares from Lithium Americas, a Canadian mining company settled in Canada, operating in North Argentina and extracting lithium – a basic mineral to produce electric batteries for cars.
According to the information provided by EFE Agency, Magna invested 7 million dollars in Lithium Americas, in exchange for receiving part of the lithium extracted in the dessert of the north of Argentina. Lithium, used in the batteries for mobile telephones, is considered a key element for the development of electric car batteries due to its energetic intensity and long lasting. Global car companies, which just emerged from the worst year of their history are immersed in a race to produce the first battery system capable of competing with the conventional combustion motor. In this scenario, Ford has requested Magna to develop an electric version of the Focus model, while car companies Daimler and Mitsubishi requested its cooperation to electrify the propulsion system. Although the so-called green cars already exist (such as Toyota Prius) the key issue is the battery production.
The Austro-Canadian car company Magna purchased shares from Lithium Americas, a Canadian mining company settled in Canada, operating in North Argentina and extracting lithium – a basic mineral to produce electric batteries for cars.
According to the information provided by EFE Agency, Magna invested 7 million dollars in Lithium Americas, in exchange for receiving part of the lithium extracted in the dessert of the north of Argentina. Lithium, used in the batteries for mobile telephones, is considered a key element for the development of electric car batteries due to its energetic intensity and long lasting. Global car companies, which just emerged from the worst year of their history are immersed in a race to produce the first battery system capable of competing with the conventional combustion motor. In this scenario, Ford has requested Magna to develop an electric version of the Focus model, while car companies Daimler and Mitsubishi requested its cooperation to electrify the propulsion system. Although the so-called green cars already exist (such as Toyota Prius) the key issue is the battery production.
"Avanza estudio para extraer potasio en Neuquén", published in Diario Río Negro (Province of Río Negro) on 01/14/2010.
One of the three companies expecting to exploit potassium mines in the Province of Neuquén made progress in the preliminary studies and, according to their announcement, will begin to perform dilution tests on the mineral. The process will provide information on the material’s behavior once the exploitation stage is achieved.
The provincial mining director, Carlos Portilla, confirmed the existence of three possible areas for potassium exploitation in the Province.
In this context, still in the exploration stage, one of the concessionaire companies will begin performing dilution tests of the mineral shortly, as stated by the officer.
According to the information provided by the National Mining Secretariat, in the Province of Neuquén is located 75 % of the biggest potassium deposit in South America, being Rincón de los Sauces a preferred location. The possibility to extract potassium is given by the great demand of 175 countries and their relation with 12 producing countries, stated the Mining bureau when promoting potassium exploitation.
One of the three companies expecting to exploit potassium mines in the Province of Neuquén made progress in the preliminary studies and, according to their announcement, will begin to perform dilution tests on the mineral. The process will provide information on the material’s behavior once the exploitation stage is achieved.
The provincial mining director, Carlos Portilla, confirmed the existence of three possible areas for potassium exploitation in the Province.
In this context, still in the exploration stage, one of the concessionaire companies will begin performing dilution tests of the mineral shortly, as stated by the officer.
According to the information provided by the National Mining Secretariat, in the Province of Neuquén is located 75 % of the biggest potassium deposit in South America, being Rincón de los Sauces a preferred location. The possibility to extract potassium is given by the great demand of 175 countries and their relation with 12 producing countries, stated the Mining bureau when promoting potassium exploitation.
"Mendoza lleva energía hasta el límite con Neuquén", published in Diario Río Negro (Province of Río Negro) on 01/19/2010.
The Brazilian company Vale Do Rio Doce, which develops a potassium deposit in the south area of the Province of Mendoza, proposed to build a 120 kilometer high tension line starting from Malargüe to supply the processing plant on the banks of Rio Colorado. The work, with an estimate cost of 60 million dollars, will create an alternative energy source near Rincón de los Sauces, where it would be possible to close up a regional ring.
The electrical installation between the Province of Neuquén and Mendoza will have a 500 kilovolts tension. The idea is to build, 125 kilometers north from the potassium mine, a new transformer station to reduce to 132 kilovolts (kV) and take the voltage, from there, to a new transformer station in the Cañadón Amarillo deposit, where the potassium plant of Rio Colorado, owned by Vale do Rio Doce (which bought from the Anglo-Australian Rio Tinto) is located.
The Brazilian company Vale Do Rio Doce, which develops a potassium deposit in the south area of the Province of Mendoza, proposed to build a 120 kilometer high tension line starting from Malargüe to supply the processing plant on the banks of Rio Colorado. The work, with an estimate cost of 60 million dollars, will create an alternative energy source near Rincón de los Sauces, where it would be possible to close up a regional ring.
The electrical installation between the Province of Neuquén and Mendoza will have a 500 kilovolts tension. The idea is to build, 125 kilometers north from the potassium mine, a new transformer station to reduce to 132 kilovolts (kV) and take the voltage, from there, to a new transformer station in the Cañadón Amarillo deposit, where the potassium plant of Rio Colorado, owned by Vale do Rio Doce (which bought from the Anglo-Australian Rio Tinto) is located.
"Litio, nuevo imán de inversiones para automotrices y mineras", published in Clarín (Buenos Aires) on 01/21/2010.
The Japanese company Toyota established a partnership with the Australian mining company Orocobre to extract lithium in the Salar de Olaroz, in the Province of Jujuy. Initially they will invest 4.5 million dollars in feasibility studies which, if successful, will reflect in a 100 million dollar investment, according to the information provided by the company’s president, James Calaway. Calaway expects the mine to begin producing by 2012.
In a meeting held with Eng. Mayoral, Secretary of Mines, the general manager of Northamerican mining company Li3, Luis Saenz, announced that the company is exploring the mineral in The Provinces of Salta and Jujuy. The investment will demand AR$ 20 million in the first stage and AR$ 400 million for the building stage. According to the National Mining Secretariat, “there are 30 companies interested in the lithium deposited in the Puna”.
“An argentine delegation of businessmen related to mining traveled to China on Monday to participate in a business seminar with investment analysts", commented an official spokesman.
Recently, the Austro-Canadian car company Magna purchased a share in Lithium Americas, operating in the north of Argentina extracting the mineral destined to the production of batteries. With the operation, which demanded 7 million US Dollars, Magna ensures –like Toyota– the supply of a key product. Argentina sold 6,000 lithium tons to United States, England, Germany, China, Russia, Japan and Holland in 2009.
The Japanese company Toyota established a partnership with the Australian mining company Orocobre to extract lithium in the Salar de Olaroz, in the Province of Jujuy. Initially they will invest 4.5 million dollars in feasibility studies which, if successful, will reflect in a 100 million dollar investment, according to the information provided by the company’s president, James Calaway. Calaway expects the mine to begin producing by 2012.
In a meeting held with Eng. Mayoral, Secretary of Mines, the general manager of Northamerican mining company Li3, Luis Saenz, announced that the company is exploring the mineral in The Provinces of Salta and Jujuy. The investment will demand AR$ 20 million in the first stage and AR$ 400 million for the building stage. According to the National Mining Secretariat, “there are 30 companies interested in the lithium deposited in the Puna”.
“An argentine delegation of businessmen related to mining traveled to China on Monday to participate in a business seminar with investment analysts", commented an official spokesman.
Recently, the Austro-Canadian car company Magna purchased a share in Lithium Americas, operating in the north of Argentina extracting the mineral destined to the production of batteries. With the operation, which demanded 7 million US Dollars, Magna ensures –like Toyota– the supply of a key product. Argentina sold 6,000 lithium tons to United States, England, Germany, China, Russia, Japan and Holland in 2009.
"China promete invertir U$S 140 millones en proyectos mineros", published in El Cronista Comercial (Buenos Aires) on 01/27/2010.
Despite the absence of President Cristina Fernández, which discouraged half the businessmen who planned on traveling with her, the Government tried to show that the commercial visit to China was still constructive. Agreements with China were announced, compromising investments for over US$ 140 million to develop mining in the country and to purchase Chinese equipments on behalf of Argentine businessmen.
Despite the absence of President Cristina Fernández, which discouraged half the businessmen who planned on traveling with her, the Government tried to show that the commercial visit to China was still constructive. Agreements with China were announced, compromising investments for over US$ 140 million to develop mining in the country and to purchase Chinese equipments on behalf of Argentine businessmen.
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.