Mining News

"Tratan nueva Ley de Glaciares aprobada por las mineras", published in El Cronista (Buenos Aires) on 09/02/2009.
There is a new bill in the Federal Congress, promoted by senator Daniel Filmus, which has the support of provinces with mining production. The new text of the bill eliminates "the restriction for mining or oil exploitation in the periglacial environment saturated with ice."

"El diputado del Pach ya tomó Posición en el debate", published in El Diario de Madryn (Province of Chubut) on 09/03/2009.
Roque González, deputy of the Pach party, considered that "at any given moment the province must exploit mining". Notwithstanding, he will expect very high standards as per the protection of the environment, nor will he ot neglect the relations with the communities involved. He says that the "Navidad" project "is being properly approached". The deputy held it is not possible to behave capriciously against mining "because possible mining projects mean new productive development and job opportunities for citizens."

"Lo harán 'Profesionales Independientes' y no el Consejo De Ambiente", published in El Diario de Madryn (Province of Chubut) on 09/03/2009.
The Chamber of Deputies of the Province of Chubut will discuss the 36-month suspension of mining activity in the province and will confirm the partial veto of the Executive Branch, which established that the Provincial Board of Environment will be in charge of the new zoning and characterization of mining. The proposal was made by the deputy of the Radical Party, Carlos Lorenzo, and was strongly rejected since "independent professionals" will manage the work previously trusted to the Board.

"Concedieron permiso a una empresa estadounidense para explorar uranio", published in Diario El Chubut (Province of Chubut) on 09/03/2009.
On August 13, it was known that the North American firm "United Energy Metals S.A." was given an exploration and prospection permit for first and second class mines and nuclear minerals, over a surface of 9.976 hectares, in fields located in the Mártires Department, Province of Chubut. The concession of the permit is given for a period of 1,100 days.

"Yacimiento de oro en Gastre", published in Diario El Chubut (Province of Chubut) on 09/03/2009.
The company Patagonia Gold S.A. informed on the discovery of gold and copper deposits to the Direction of Mines and Geology. The deposits were called "Lonco I", and they are located in the Gastre Department, Province of Chubut. Having complied with the legal requirements, the Register and the Publication of notices were ordered on behalf of "Patagonia Gold" in the Protocol of Mines Discovery.

"Una minera argentina pide permiso para explorar en Río Negro", published in "Diario de Río Negro" (Province of Río Negro) on 09/06/2009.
The company Cerrro Vanguardia requested an exploration permit of gold deposits located in the Department 9 de Julio, Province of Río Negro.

"Embarcaron en China equipos para la usina carbonera de Río Turbio", published in El Cronista (Buenos Aires) on 09/07/2009.
The coal plant of Río Turbio (Province of Santa Cruz) of 240 MW built by the Spanish company Isolux Corsan will require an investment of more than USD 700 million. The building of the project is essential to strengthen the commercial exploitation of Río Turbio's deposits, whose development is essential for the economic life of the population of Santa Cruz, with almost 30.000 inhabitants.

"Barrick, de nuevo en Índice Sustentabilidad", published in El Cronista (Buenos Aires) on 09/08/2009.
The Canadian mining company was again included in the Dow Jones Sustainability Index due to its performance in social responsibility in business worldwide. The company has 88.5 million dollars invested in renewable energy projects in Chile, Argentina and Nevada.

"Inversiones en minería ya son récord: $ 7.350 M", published in "Ámbito Financiero" (Buenos Aires) on 09/09/2009.
Mining investments broke a record: almost USD 2 billion, 31% higher than the previous period, according to official statistics. This represents a 1,000% growth regarding 2003. These figures place mining as a leading activity in the region and Argentina as one of the most important markets worldwide of the decades to come. On the other hand, according to the information of the National Secretary of Mines during 2008 there was a record on exports of almost USD 3 billion. The jobs related directly to mining were 256,000, with an increase of almost 300% in a decade; wages of mining workers are among the highest in the country. Basically, gold is boosting Argentina as a mining country. San Juan, Catamarca, La Rioja, Salta, Jujuy, Santa Cruz and Chubut are the provinces where the main exploration is focused in Argentina. According to the Ministry of Economy, the production of gold, copper and silver in the country represents 3.4% of the Gross Domestic Product (GDP). If this trend continues, the estimations of the sector and the Government indicate that in 2015 the country could be among the three mining world powers, bringing work to over 400,000 people, directly and indirectly jobs, with investments for more than USD 10 billion.

"El impacto del 'efecto Veladero'", published in "Ámbito Financiero" (Buenos Aires) on 09/09/2009.
Chilean consultant Malthus made an evaluation on the influence Veladero (Barrick) project produced in the Province of San Juan, concluding that said project made San Juan achieved its maximum participation in the national Gross Domestic Product (GDP). Veladero generated such a positive consequence in San Juan that there are "5,000 people involved in the largest economic activity generating great expectations of the working conditions of professionals". The building of the mine began on 2003 and started operating on September 2005. It is an open pit mine, to access the deposit the company built a 156 kilometer long mining road. Since then, Barrick created 4,000 direct jobs in building the mine and 1,000 for the mine production. Since the mine started operating, San Juan' total production -a province whose surface is mainly rocky- reached 1.03% of the national Gross Domestic Product (GDP), the highest figure of said province in its history. Between 2001 and 2008, the Gross Domestic Product (GDP) of San Juan quadrupled. It is estimated that 23.1% of the province's economy is due, directly or indirectly, to Veladero.

"Barrick cierra acuerdo por producción de Pascua Lama", published in El Cronista (Buenos Aires) on 09/09/2009.
Barrick agreed to sell 25% of the silver production of the "Pascua-Lama" Project to Canadian Group Silver Wheaton Corp. Barrick will receive a USD 625 million cash deposit to be cancelled in three years, as well as payments during the mining production for every ounce of silver delivered according to the contract. It is expected that the project located on the borders of Chile and Argentina will become one of the greatest gold mines worldwide and with the lowest costs, once it starts to produce in 2013. Pascua Lama is the first binational mining project in the world, developing a gold strip mine of 4,000 meters above sea-level on frontier territory. There's an estimation of a 2,400 million dollar investment and a working life of at least 23 years.

"Usarán plata del BID para reparar daños de la minería", published in "Clarín" on 09/12/2009.
The Secretary of Mines was given a USD 20 million credit by the Interamerican Development Bank (IDB) to execute works on environmental remediation in the Provinces of Jujuy, San Juan and Río Negro. The Secretary of Mines explained that "said areas had mining activity before the Environmental Law (24.585) was enacted and incorporated to the Mining Code". According to the Government's officers, since Law Nº 24.585 was enacted mining companies have to comply with the requirements of remediation of closed mines.

"Apuntan a la necesidad de sumar centrales atómicas", published in "La Prensa" on 09/16/2009.
The need to broaden the national energy scenario -mainly to have sufficient reserves- led the Government to promote the development of nuclear activity. The Energy Secretariat and the National Atomic Energy Commission (NAEC) were the leading figures of said promotion. There are two aspects worth outlining: first, the infrastructure required to generate electric energy, especially to improve current power plants and to build new ones. Second, provide the country with the necessary uranium reserves, such as fuel, to maintain the functioning of the plants. The exploration of uranium has recently been launched in provinces such as Chubut, Mendoza, San Juan and Santa Cruz. Huemul Project, in the Province of Mendoza, obtained the Declaration of Environmental Impact for the exploration. The project started in October 2006, belongs to the company Energía Mineral, subsidiary of Calypso Uranium. In the Province of Chubut there are exploration permits granted for 50,000 hectares.

"La minería es la mejor salida para la Meseta Central", published in "Diario El Chubut" (Province of Chubut) on 09/19/2009.
"No one can deny that the best option for Meseta Central, and probably the only one, is mining", declared Governor Mario Das Neves, backing up comments by Mario Pichiñán, Intendant of Paso de Indios, regarding the benefits of mining development.

"Inversión minera", published in "La Nación" on 09/24/2009.
Mining company Oro Cobre Limitada made its investment Project of over USD 100 million to extract lithium and potassium salts in the Province of Jujuy, starting in 2011 official before the Secretary of Mining. The project presented by the Australian group foresees the building of a complex in Olaroz and the production will be destined to elaborate rechargeable batteries to use in electrical devices.

"Barrick dijo que la obra de Pascua-Lama es inminente", published in "Infobae" on 09/24/2009.
Pascua-Lama, one of the latest gold mega-discoveries known, has deposits estimated of 18 million gold ounces and will provide Barrick -with its main offices in Canada- an annual production of 750.000 to 800.000 ounces in the first five years. "The weather conditions are getting better. There is no sure date, but a start date for building is imminent", declared Barrick' spokesmen, Vince Borg. The executive added that "imminent" means in one month. The project, located over 5,000 meters over sea-level, is one of the biggest silver deposits and will initially produce 35 million ounces.

"Lorenzo promueve una consulta popular", published in "Crónica" (Province of Chubut) on 09/24/2009.
Provincial deputy, Carlos Lorenzo, declared yesterday that in order to reactivate mining, which the Government intends to accomplish in the area of the central plateau, it would be necessary to call a public consultation. Regarding the general opinion of the deputies, Lorenzo declared that "this can't be solved by 27 deputies. To decide it is necessary to take into consideration the people's opinion."

"Minería: anulan juicio a un directivo", published in "Clarín" (Buenos Aires) on 09/25/2009.
The Criminal Court of Appeal declared the annulment of Julián Rooney's trial -an executive of Minera Alumbrera- in the criminal case for alleged contamination. The Court decided to annul the trial because it was arbitrary. "The main motive of the accusation was an expert test that had not been carried out according to accepted standards -a water sample of the pluvial drainage canal 2 (PD2) in the Province of Tucumán- which gave different results from the samples taken by other procedures of the enforcement agency, which has been operating for over 10 years", informed the company. On the other hand, Yacimientos Mineros Aguas de Dionisio which has the obligation to analyze the effluent of PD2, held "there is no pollution."

"Avanzan negociaciones por Pascua Lama", published in "Ámbito Financiero" on 09/25/2009.
Barrick South America has almost 70% of the finance needed to build Pascua Lama, the first binational mining project worldwide, and once it starts to function it will be the biggest gold mine of Argentina. The estimated cost of the building, will last three years, and will require USD 3 billion. The Canadian company will invest USD 2 billion to begin the work between October and November. To obtain the remaining capital, negotiations were established with credit agencies and global finance institutions. Part of the company's resources were obtained from the future sale to Silver Wheaton Corp. of the whole silver production of the mines located in Perú -Pierina and Lagunas Norte- and Veladero, Province of San Juan, until Pascua Lama begins producing at the end of 2012.

"Minera Alumbrera, aclara", published in "El Cronista" (Buenos Aires) on 09/28/2009.
Executives of Yacimientos Mineros Aguas de Dionisio (YMAD) declared that Minera Alumbrera "does not pollute" in Ranchillos, Tucumán. "The drying plant of Minera Alumbrera in Ranchillos, does not pollute. There is proof of polluted water three kilometers below the level of the mine, which is due to effluents of the citric industry and the sugar mills, as well as the polluted water table of the villages which coast the 70 kilometer extension of Rio Salí."

"Inauguran mina en San Juan", published in "Ámbito Financiero" (Buenos Aires) on 09/30/2009.
On September 30, 2009 Gualcamayo, the second largest mine in the Province of San Juan was officially inaugurated. The Canadian company Yamana Gold is the owner of the deposit. Located in the Department of Jáchal, Gualcamayo produced its first pure gold ingot in mid January and, in this way, started the extraction. It has reached over 60% of its full production and has paid USD 3 million in royalties to the province.