ARTICLE
Mining News
April 1, 2010
"China planea multiplicar fusión con empresas de minería y energía", published in Ámbito Financiero (City of Buenos Aires) on 04/09/2009.
The Chinese Government instructed its energy and mining companies to secure hydrocarbons and metal resources supply, and anticipated in 2009, international purchases for USD 18,000 Million. China first aimed for the Province of Chubut, directly to the development of the Cerro Dragon deposit; the country's most productive area, whose concession was extended until 2027 under the agreement executed by and between Bridas' (40% holding) Pan American Energy (PAE) oil company - and Mario Das Neves' Provincial Government. The Chinese oil company paid USD 3,100 Million for half of Bulgheroni's holding to become a partner to Argentina's largest oil exporter. As these are among the smallest Chinese investments reaching Argentina currently, and partly also due to the large amounts that need to be invested for mining developments, the mountain range provinces have the most potential to attract Chinese companies' attention. The Chinese company MCC which operates the Sierra Grande iron project in the Province of Rio Negro also subscribed and agreement with the Government of the Province of Neuquén to seek copper and molybdenum. In addition, the Province of Jujuy executed an agreement with the Asian company San He Hopefull Grain & Oil Group, which provides initial investments over AR$ 22 Million for the exploration of areas for potential copper and iron mining. Furthermore, the Province of Tierra del Fuego subscribed to an agreement with Chinese industrialists creating the company Tierra del Fuego Energía y Química, for which the construction of a methanol plant was announced.
"Un grupo francés se suma a la fiebre del litio en la Argentina", published by Clarin (City of Buenos Aires) on 04/10/2010.
Bollore, one of the world's greatest French holdings, has decided to invest in lithium in Argentina in order to produce ecological batteries for its electric vehicles. Bollore has already been granted the concessions in the northwestern provinces and will build a plant in the salt flats at 4,000 meters above sea level within two years. Many companies are already pursuing this business in Argentina; from the Japanese car-maker Toyota to the Canadian auto-parts Magna, including mining companies such as the North-American Li3. Lithium will be the oil of the XXI Century. The price for lithium carbonate has doubled since 2006 and peaked at USD 6,000 in mid-2009. Currently the price has remained even at USD 5,000.
"Exploración minera: con una inversión de U$S 80 repunta la búsqueda de nuevos yacimientos", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
This year a significant recovery will occur on account of 15 projects located in the Provinces of San Juan, Santa Cruz, Chubut, Salta and Jujuy. Mining is expected to finally take off during this year's third quarter. Exploration investments forecast for this year are proof of this tendency: disbursements will exceed USD 80 Million; four times the amounts invested in 2009 (15/20 Million) according to the information provided by Julio Ríos Gómez, head of Gemera, the chamber of juniors operating in Argentina.
"Apoyo del Gobierno a la pequeña y mediana minería en Cuyo", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
Beatriz Nofal, President of the Argentine Investment Development Agency - ProsperAr, recently launched a Strategic Administration Program for Medium-and-Small-Sized Enterprises in the Province of San Juan. Backed by the Governor of the Province of San Juan, Jose Luis Gioja and the Provincial Minister of Production, Raul Benitez, the proposal is aimed at improving entrepreneurial skills and providing management and business planning tools in order to facilitate financing and growth of medium and small companies operating in the Provinces of San Juan, Mendoza and La Rioja. This initiative might benefit particularly small mining companies and service companies operating in the Cuyo region.
"Andacollo Gold busca nuevas reservas y analiza la construcción de otra planta", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
The Chilean company is displaying a USD 8 Million exploration plan to set 40 shafts (approximately) and raise its gold reserves horizon in Andacollo, North to the Province of Neuquén. The prospecting, drilling and interpretation works which could result in the construction of a new plant will take around two years. Andacollo Gold's plan comprises three exploration campaigns (one each year) in various deposits such as Cuerno del Diablo, Cerro Yegua and Los Maderos, among others. Close to USD 8 Million shall be invested. A total amount of 40 shafts distributed among several works are to be drilled. Operations will increase in those showing the best properties.
"Chubut, cada vez más cerca de darle luz verde a la explotación minera", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
With the approval of the Province's Governor, Mario Das Neves, this year, a referendum will be issued regarding the subject matter. At the same time, Navidad silver and lead deposit and Cerro Solo uranium deposit, the main mining projects in the Province of Chubut were recently granted the approval of their environmental impact study updates. The approval for Navidad -whose new owner, Pan American Silver, announced a 16.5 Million Dollar investment for this year- was granted by the Undersecretary of Environmental Matters and Sustainable Development of the Province of Chubut, while the authorization for Cerro Solo was awarded by the Argentine Atomic Energy Commission (CNEA). According to the Mining Chamber of Chubut, around 20 to 25 junior companies are performing studies and exploring in the province. Some of the main projects are El Desquite (gold and silver) and El Peñon (gold) located within the Cordón de Esquel and operated by Yamana Gold; Cerro Solo (uranium and molybdenum) and Laguna Colorada (uranium), located within the Paso de Indios county and operated by CNEA; and El Tropezón (uranium) and La Pampa (uranium), located in the Cuenca del Golfo San Jorge and operated by Portal Resources, among others.
"Nueva planta refinadora de oro", published in El Cronista (City of Buenos Aires) on 04/22/2010.
Yacimientos Mineros Aguas del Dionisio (YMAD) will build a new refining plant in the Province of Catamarca. The election of the company in charge of the construction of the plant under way. The investment will total between USD 4 and 5 Million. The plant will be located in El Pantanillo industrial centre and will occupy a 1,000 square meter surface. Furthermore, the plant will have the capacity to process the production of YMAD and other companies. YMAD's current plant can only process 100 kilos of gold per month.
"Santa Cruz: con la creación de una Secretaría, fortalecen controles mineros", published in El Inversor Energético & Minero - Daily Newsletter (City of Buenos Aires) on 04/23/2010.
The enforcement of the Mining Geographic Location Act will be the main duty of the new Secretary of Mining of the Province of Santa Cruz, Oscar Vera, whose office was made effective this week by Governor Daniel Peralta, accompanied by Vice-governor Hernan Matinez Crespo, Provincial Minister Chief Pablo Gonzalez and the Provincial Minister of Production, Jaime Alvarez. Minister Alvarez, who in charge of the new Secretary of Mining, pointed out Mr. Vera's professional and academic background and stated that the raising of this office's hierarchy (formerly the Provincial Mining Directorate) was decided by Governor Daniel Peralta in order to strengthen said area of the administration, providing equipment and permanent training for its professionals and technicians aiming to increase the development and to improve mining activity controls.
"Santa Cruz: aprueban el informe de impacto ambiental del proyecto Lomada de Leiva", published in El Inversor Energético & Minero - Daily Newsletter (City of Buenos Aires) on 04/28/2010.
Patagonia Gold, in charge -jointly with state-owned Formicruz- of many gold and silver exploration projects South of the Perito Moreno glacier, on the Northeastern end of the Deseado formation, announced that the Provincial Mining Secretary approved the environmental impact study for the lixiviation trial operation proposed by the company for the Lomada de Leiva project. This is a gold and silver deposit located 40 kilometers Southeast of the Perito Moreno glacier, within the "Special Mining Interest Area" as defined by the Provincial House of Representatives. The company estimates that Lomada de Leiva will produce over 21,000 ounces of gold annually and will have a 7-year mine life, although there are well-founded expectations for the extension of said term.
The Chinese Government instructed its energy and mining companies to secure hydrocarbons and metal resources supply, and anticipated in 2009, international purchases for USD 18,000 Million. China first aimed for the Province of Chubut, directly to the development of the Cerro Dragon deposit; the country's most productive area, whose concession was extended until 2027 under the agreement executed by and between Bridas' (40% holding) Pan American Energy (PAE) oil company - and Mario Das Neves' Provincial Government. The Chinese oil company paid USD 3,100 Million for half of Bulgheroni's holding to become a partner to Argentina's largest oil exporter. As these are among the smallest Chinese investments reaching Argentina currently, and partly also due to the large amounts that need to be invested for mining developments, the mountain range provinces have the most potential to attract Chinese companies' attention. The Chinese company MCC which operates the Sierra Grande iron project in the Province of Rio Negro also subscribed and agreement with the Government of the Province of Neuquén to seek copper and molybdenum. In addition, the Province of Jujuy executed an agreement with the Asian company San He Hopefull Grain & Oil Group, which provides initial investments over AR$ 22 Million for the exploration of areas for potential copper and iron mining. Furthermore, the Province of Tierra del Fuego subscribed to an agreement with Chinese industrialists creating the company Tierra del Fuego Energía y Química, for which the construction of a methanol plant was announced.
"Un grupo francés se suma a la fiebre del litio en la Argentina", published by Clarin (City of Buenos Aires) on 04/10/2010.
Bollore, one of the world's greatest French holdings, has decided to invest in lithium in Argentina in order to produce ecological batteries for its electric vehicles. Bollore has already been granted the concessions in the northwestern provinces and will build a plant in the salt flats at 4,000 meters above sea level within two years. Many companies are already pursuing this business in Argentina; from the Japanese car-maker Toyota to the Canadian auto-parts Magna, including mining companies such as the North-American Li3. Lithium will be the oil of the XXI Century. The price for lithium carbonate has doubled since 2006 and peaked at USD 6,000 in mid-2009. Currently the price has remained even at USD 5,000.
"Exploración minera: con una inversión de U$S 80 repunta la búsqueda de nuevos yacimientos", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
This year a significant recovery will occur on account of 15 projects located in the Provinces of San Juan, Santa Cruz, Chubut, Salta and Jujuy. Mining is expected to finally take off during this year's third quarter. Exploration investments forecast for this year are proof of this tendency: disbursements will exceed USD 80 Million; four times the amounts invested in 2009 (15/20 Million) according to the information provided by Julio Ríos Gómez, head of Gemera, the chamber of juniors operating in Argentina.
"Apoyo del Gobierno a la pequeña y mediana minería en Cuyo", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
Beatriz Nofal, President of the Argentine Investment Development Agency - ProsperAr, recently launched a Strategic Administration Program for Medium-and-Small-Sized Enterprises in the Province of San Juan. Backed by the Governor of the Province of San Juan, Jose Luis Gioja and the Provincial Minister of Production, Raul Benitez, the proposal is aimed at improving entrepreneurial skills and providing management and business planning tools in order to facilitate financing and growth of medium and small companies operating in the Provinces of San Juan, Mendoza and La Rioja. This initiative might benefit particularly small mining companies and service companies operating in the Cuyo region.
"Andacollo Gold busca nuevas reservas y analiza la construcción de otra planta", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
The Chilean company is displaying a USD 8 Million exploration plan to set 40 shafts (approximately) and raise its gold reserves horizon in Andacollo, North to the Province of Neuquén. The prospecting, drilling and interpretation works which could result in the construction of a new plant will take around two years. Andacollo Gold's plan comprises three exploration campaigns (one each year) in various deposits such as Cuerno del Diablo, Cerro Yegua and Los Maderos, among others. Close to USD 8 Million shall be invested. A total amount of 40 shafts distributed among several works are to be drilled. Operations will increase in those showing the best properties.
"Chubut, cada vez más cerca de darle luz verde a la explotación minera", published in El Inversor Energético & Minero (City of Buenos Aires) on April 2010.
With the approval of the Province's Governor, Mario Das Neves, this year, a referendum will be issued regarding the subject matter. At the same time, Navidad silver and lead deposit and Cerro Solo uranium deposit, the main mining projects in the Province of Chubut were recently granted the approval of their environmental impact study updates. The approval for Navidad -whose new owner, Pan American Silver, announced a 16.5 Million Dollar investment for this year- was granted by the Undersecretary of Environmental Matters and Sustainable Development of the Province of Chubut, while the authorization for Cerro Solo was awarded by the Argentine Atomic Energy Commission (CNEA). According to the Mining Chamber of Chubut, around 20 to 25 junior companies are performing studies and exploring in the province. Some of the main projects are El Desquite (gold and silver) and El Peñon (gold) located within the Cordón de Esquel and operated by Yamana Gold; Cerro Solo (uranium and molybdenum) and Laguna Colorada (uranium), located within the Paso de Indios county and operated by CNEA; and El Tropezón (uranium) and La Pampa (uranium), located in the Cuenca del Golfo San Jorge and operated by Portal Resources, among others.
"Nueva planta refinadora de oro", published in El Cronista (City of Buenos Aires) on 04/22/2010.
Yacimientos Mineros Aguas del Dionisio (YMAD) will build a new refining plant in the Province of Catamarca. The election of the company in charge of the construction of the plant under way. The investment will total between USD 4 and 5 Million. The plant will be located in El Pantanillo industrial centre and will occupy a 1,000 square meter surface. Furthermore, the plant will have the capacity to process the production of YMAD and other companies. YMAD's current plant can only process 100 kilos of gold per month.
"Santa Cruz: con la creación de una Secretaría, fortalecen controles mineros", published in El Inversor Energético & Minero - Daily Newsletter (City of Buenos Aires) on 04/23/2010.
The enforcement of the Mining Geographic Location Act will be the main duty of the new Secretary of Mining of the Province of Santa Cruz, Oscar Vera, whose office was made effective this week by Governor Daniel Peralta, accompanied by Vice-governor Hernan Matinez Crespo, Provincial Minister Chief Pablo Gonzalez and the Provincial Minister of Production, Jaime Alvarez. Minister Alvarez, who in charge of the new Secretary of Mining, pointed out Mr. Vera's professional and academic background and stated that the raising of this office's hierarchy (formerly the Provincial Mining Directorate) was decided by Governor Daniel Peralta in order to strengthen said area of the administration, providing equipment and permanent training for its professionals and technicians aiming to increase the development and to improve mining activity controls.
"Santa Cruz: aprueban el informe de impacto ambiental del proyecto Lomada de Leiva", published in El Inversor Energético & Minero - Daily Newsletter (City of Buenos Aires) on 04/28/2010.
Patagonia Gold, in charge -jointly with state-owned Formicruz- of many gold and silver exploration projects South of the Perito Moreno glacier, on the Northeastern end of the Deseado formation, announced that the Provincial Mining Secretary approved the environmental impact study for the lixiviation trial operation proposed by the company for the Lomada de Leiva project. This is a gold and silver deposit located 40 kilometers Southeast of the Perito Moreno glacier, within the "Special Mining Interest Area" as defined by the Provincial House of Representatives. The company estimates that Lomada de Leiva will produce over 21,000 ounces of gold annually and will have a 7-year mine life, although there are well-founded expectations for the extension of said term.
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.