Mining News

"Argentine mining sector is forecast to grow at an annual rate of 3% during 2009 to 2013", published in Companiesandmarkets.com on 07/29/2009.
Despite certain problems, mining investments in Argentina will continue to grow at a good rate. This article also expresses the progress made in projects related to the extraction of gold, silver, potash, uranium, lithium and boron.

"Las reservas de uranio podrían crecer 60 por ciento", published in Buenos Aires Económico (Buenos Aires) on 07/31/2009.
Argentina has geological possibilities of holding uranium reserves over 15,000 tons and there is strong evidence to believe that these reserves may increase between 50% and 60%, according to the exploration activities currently in course in the Provinces of Catamarca and Santa Cruz.

"Gioja instó a los Sanjuaninos a defender la minería local", published in Cuyo Newspaper (Province of San Juan) on 08/01/2009.
José Luis Gioja, governor of San Juan Province, made a strong defense of mining activities which are being developed in said province. He urged the people of San Juan to defend and support mining, as it is a source of work and growth. Gioja made his statements as a response to the negative opinion of elected-congressman Pino Solanas, spoke on the matter.

"Lanzan una licitación minera en Neuquén", published in Clarín Newspaper (Buenos Aires) on 08/07/2009.
The Government of the Province of Neuquén launched a public bidding process for the Copahue Geothermical Project related to vapor extraction, which will demand an 80-million-dollar investment. The project includes the construction of an 80 megawatts electric generator and an energy transmission line of 132 megawatts.

"Se estarían desarrollando más de veinte emprendimientos mineros en Chubut", published in Madryn Newspaper (Province of Chubut) on 08/10/2009.
Several mining projects are being developed in the Province of Chubut, regarding uranium, silver, molybdenum, gold, lead, copper and zinc extraction. The following companies are involved: Portal Resources Ltd., Consolidated Pacific Bay Minerals Ltd., Aquiline Resources Inc., UrAmerica S.A., United Energy Minerales, Mega Uranium Ltd., Yamana Gold Corporation, Patagonia Gold, Cardero Resource Corp. and Hochschild Mining.

"San Juan está empeñada en buscar reservas de uranio", published in Cuyo Newspaper (Province of San Juan) on 08/12/2009.
The Government of San Juan Province wants to prospect uranium reserves in its territory, either through the National Commission of Atomic Energy (CNEA) or the Provincial Energy Government-Owned Corporation (EPSE). Mining Secretary of San Juan, Felipe Saavedra, declared that "the provincial government is interested in having the maximum area under exploration as possible." Until 2007 the exploration and development of mineral deposits was reserved for the CNEA, until the Federal Government unleashed its control and it became possible for the Provinces to have control of said reserves.

"Invierten u$s 70 M en una mina", published in Ámbito Financiero on 08/13/2009.
The Canadian company Barrick Gold Corporation invested 70 million dollars in its gold mine "Veladero", located in the Province of San Juan, to expand the production by means of a second milling line. Barrick's capacity will expand from 50.000 to 85.000 tons per day.

"Santa Cruz lidera la actividad exploratoria y acentúa su sostenido crecimiento", published in Ámbito Financiero (Buenos Aires) on 08/14/2009.
In the Province of Santa Cruz, mining has become a real Governmental policy. With over 285.000 meters drilled in 2008, Santa Cruz became the Province with the major mining investments. Fomicruz, Santa Cruz' owned corporation, created 11 years ago to prospect, explore and exploit mineral and hydrocarbons deposits, continues encouraging mining. Nowadays, Fomicruz is negotiating with other companies the exploration of different areas with gold and silver deposits. The negotiations are part of private agreements carried out by the Province. The sealed document for the public bidding process to drill Laguna Sirven, rich in uranium, is being prepared.

"Salta, con gran potencial minero", published in Ámbito Financiero (Buenos Aires) on 08/14/2009.
The Province of Salta has become an appealing destination for mining companies, especially due to borate-derived products. Extremely wealthy in its geological resources, Salta has also limestone, salt and pearlite. During 2008 borate production increased 20% (from 280.000 tons in 2007 to 338.000 in 2008). Exports consist mainly of lithium from the Félix mine of Minera del Altiplano Company. The province exports minerals to over 40 countries.

"La minería en Catamarca tiene voz propia", published in Ámbito Financiero (Buenos Aires) on 08/14/2009.
Mining in the Province of Catamarca is a great opportunity for those willing to invest in a flourishing market. A leading example is Bajo la Alumbrera, which made Catamarca the largest mineral exporter of the country. The Association of Mining Companies of Catamarca, created in December 2007, supports, promotes, encourages and develops mining activity in the Province. The association offers programs and services for businessman to face the challenges of the 21st century, such as globalization of the markets and new technologies.

"Potasio Río Colorado ya tiene aval ambiental", published in Los Andes (Province of Mendoza) on 08/15/2009.
The Government of Mendoza issued the environmental impact assessment to mining project Potasio Río Colorado (PRC) in Malargüe, which enables the construction and production of the extraction plant of potassium salts, a powerful natural fertilizer often used in agriculture. With said assessment the mining company Vale do Rio Doce, which bought this project from Rio Tinto in January, is capable of starting with the construction of the mine, which will demand 3 years approximately. The project requires an 11,200 million Argentine pesos investment (around 2,900 million US Dollars). During the construction of the project 1,800 jobs are required directly and 4,500 required indirectly. While in production 800 and 6,000 jobs will be respectively required. The potassium salt deposit in Malargüe has enough reserves to keep up a 4.3-million-tons production during 40 years.

"Confirman la audiencia por la mina de cobre", published in Rio Negro On-Line (Province of Río Negro) on 08/19/2009.
On 09/30/2009 a public hearing will take place to decide whether or not to install a copper mine in "Paraje Campana Mahuida" in the Province of Rio Negro. The purpose for the community is to discuss pros and cons of building said mine.

"Industriales y mineros recibieron información sobre seguros ambientales", published in www.salta.gov.ar (Province of Salta) on 08/20/2009.
The General Environmental Law No. 25.675, enacted in 2002, establishes in Section 22 that "Every natural or legal person, public or private, who develops an activity that entitles a risk for the environment or the ecosystem, should hire an insurance policy able to repair any damage made to them." Authorities of the Secretary of Mines of the Province of Salta held a meeting with directors and shareholders the Industrial Organization of Salta, where they agreed to work jointly (the Government and private companies) to collaborate with the application of this regulation.

"En diez días, el Estado recupera la mina del Famatina", published in Tiempo Popular Digital (Province of La Rioja) on 08/20/2009.
The Governor of La Rioja informed that the Provincial State will take possession of the mine Famatina "in the next 10 days", considered to be "a significant step forward". The Governor signed an agreement with the National Secretary of Mines, Jorge Mayoral, to apply an environmental impact program to control mining companies. The Governor confirmed his will to support every other policy regarding the development of mining.

"Rinde la minería", published in Ámbito Financiero (Buenos Aires) on 08/25/2009.
The Government of Catamarca received 32.5 million dollars due to the profits of mining company Bajo la Alumbrera, exploited by a joint venture between "Yacimientos Mineros Agua del Dionisio" (YMAD) and "Minera Alumbrera Ltd.", according to the agreement dated in 1994. YMAD is formed by the Government of Catamarca and Tucuman' National University. YMAD has received 553 million US dollars in the past 3 years.

"Los proveedores mineros salen a buscar financiamiento", published in Cuyo Newspaper (Province of San Juan) on 08/27/2009.
It is still possible to finance mining although the worldwide economic crisis has jeopardized funds. This conclusion encouraged the people attending the meeting organized by the Chamber of Mining Services Loaners' Companies (CEPSM). Mining services companies need to acquire capital goods to work with the bi-national (Argentina-Chile) giant "Pascua Lama" operated by Barrick.

"Cal segura desde Albardón hasta Bajo de la Alumbrera", published in Cuyo Newspaper (Province of San Juan) on 08/27/2009.
The first loan of lime of Windland Company proceeding from the Province of San Juan has already departed, heading to Bajo de la Alumbrera, the mine located in the Province of Catamarca. The new Transportation Agreement originates due to the fact that Xstrata Copper Company licensed lime supply and Windland (settled 15 months ago) earned said license.

"Acuerdan impulsar la minería en la provincia de Buenos Aires", published in Infobae (Buenos Aires) on 08/28/2009.
The National Secretary of Mines and the Government of the Province of Buenos Aires agreed to a work schedule to encourage mining development regarding ornamental minerals.