Mining News

“La Rioja: una empresa china buscará recursos mineros en Chilecito”, published in El Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 07/06/2010
The Shandong Gold Groups C.O LTD president, Wang Jianhua, said that everything possible will be done to preserve the environment and remarked that the arrival of his company in La Rioja will bring important benefits to the province. All costs of the exploration stage will be afforded by the foreign company. The Chinese organization’s interest will be formalized by a letter of intent which will be signed over the next days.  Lehz commented that the exploration works will be carried out in Chilecito Department, and will begin in 60 days. It was explained that this stage would extend for 12 to 18 months and that exploration and possible exploitation works will be performed in association with EMSE.

“Millonaria exploración por litio en Catamarca y Salta”, published in Diario El Ancasti (Province of Catamarca) on 07/07/2010
It is the project named “Sal de Vida”, located between the Los Andes Department in Salta Province and the Antofagasta de la Sierra Department in Catamarca Province.
The project will generate 500 jobs mainly in lithium carbonate production, a strategic element in new digital technologies manufacturing, as it was informed.  The investment will also be part of the 500 million dollars which the northwestern region expects to receive between 2010 and 2014, with the aim of becoming one of the world’s largest lithium production areas.
The investment will be made along with exploration programs and pre-feasibility studies, in which the Government of Korea will participate through its mining development agency, Kores. This will financially support the works and will get a share in the project, as well as introducing, through memorandums of understanding, Korean industry giants such as GS Calex and LG International. This is part of the bi-national process of integration undertaken by the Governments of Argentina and Korea, which began on 2005 with the signing of the agreement for investment promotion.

“En el primer semestre San Juan cobró más de $76M por regalías”, published in Diario El Zonda (Province of San Juan) on 07/10/2010
Mining activities pay 3% pit-hole value as mining royalties, which is the contribution the extractive sector pays to the State for their non-renewable resources.
Under that scheme the companies have to make their respective contributions of which, according to applicable legislation, 55% goes to general revenues, 33% goes to mining-related municipalities and the remaining 12% ends in the Treasury of the State Secretary of Mining. Without a doubt this leaves an interesting amount of money to work towards the sustainable development of the industry. Provincial General Revenues Agency received the largest amount of money from mining royalties, as 55% of the money collected has this destination. In fact, this shows the importance this has in the execution of works, especially for the municipalities. In many cases they receive higher sums than those received from the distribution of federal taxes. This has enabled the development of infrastructure works and planning a productive system.
 
 “Provincias defienden la minería”, published in Ámbito Fianciero (City of Buenos Aires) on 07/14/2010
The Andean provinces are speeding the treatment of their own legal framework on glacier protection before the National Congress decides between the two bills being debated today in the House of Representatives which may take away their control of the mining activity.
While Jujuy and La Rioja Provinces have moved ahead and last Thursday passed laws on the matter, Salta and San Juan Provinces have drafted their laws and expect to have them enacted this week. The Government of the Province of San Juan may get the House of Representatives to treat the official initiative in a special session.
In detail, the laws of the Provinces of Jujuy and La Rioja have one fundamental point in common. Control will be held exclusively by provincial authorities.
The joint strategy of the Governments of Salta, Jujuy, La Rioja, Catamarca, San Juan, Río Negro, Santa Cruz and Neuquen was affirmed by the signing of a joint statement in which they committed to promote provincial laws on glacier protection in their legislative bodies.

“Salta: exportaciones mineras suben 31%”, published in Ámbito Financiero (City of Buenos Aires) on 07/15/2010
Mineral exports have grown around 31% during the first semester this year, in comparison with the same period on 2009. The results were obtained following a statistical analysis by the Secretary of Mining of the Province of Salta. A total of 53,344 tons of minerals were exported during the first semester of the year, while in the same period last year the amount was of 40,766 tons.
This year exports total, FOB value, US$ 37,847,032, which shows a 29.48% growth since 2009 in which the total was US$ 29,229,240.
It is important to highlight that the destination for the minerals from the Province of Salta are 42 countries in the five continents.
Minerals that have shown growth in exports volume were: sodium tetraborate (507,69%), sodium octoborate (101,91%), anhidra ulexite (99,26%), pentahydrate borax (64,16%), lithium chloride (55,05%), boric acid (47,59%), decahydrate borax (16,35%), colemanite (4,68%) and hydroboracite (6,80%).

“De Vido: Argentina será uno de los más importantes jugadores internacionales en materia minera”, published in Ámbito Financiero (City of Buenos Aires) on 07/15/2010
The Minister of Planning, Julio De Vido said he was “convinced” that over the next few years Argentina “will be one of the most important international players in mining”, when leading a mining seminar during the presidential visit to China.
Before Chinese businessmen, De Vido said that “we are reaping the fruits of work we have imposed on ourselves since 2003, when we re-established importance to the area creating the State Secretary and submitting the national mining plan as an economic policy pillar for the mining sector which enables investments and construction of new projects”.
“We are convinced that Argentina by 2020 will be one of the most important international players in mining, leading copper, gold, silver, lithium, potassium and borates production”, added the Minister of Planning, in his talk at Shangri-La hotel, in Shangai.
“Por primera vez una minera privada buscará uranio en San Juan”, published in El Inversor Energético & Minero (City of Buenos Aires) on July 2010
Jackson Global will be the first private mining company looking for uranium in San Juan. Exploration will take place on Las Marías, located in Diamantina system, 70 km north Jachal Department and 10 km west Gualcamayo gold deposit.
The Environmental Impact Assessment has already been approved by the authorities. For its conclusion Jackson Global hired the services of local Eco Minera.
The plan is to begin immediately to drill eight pits which will total 500 meters of perforation.
Besides Las Marías, the Province of San Juan has five areas –located between Jachal and Iglesia Departments- of high potential for the sector: El Carrizal, La Cuesta, La Encerrada, El Chepital and Cerro Áspero.

“San Juan: este año se invertirán más de $ 225 millones en exploración minera”, published in El Inversor Energético & Minero (City of Buenos Aires) on July 2010
Felipe Saavedra, Secretary of Mining of the Province of San Juan, predicted that this year 225 million pesos will be invested in mining prospection, which makes an historic record for the exploratory records of the country.
In his view, thanks to visionary, strategic and long term State policy the productive sector is nowadays the most dynamic one of the province. “With part of those resources it has already been installed an aqueduct and a water treatment plant in Jachal Department, where  a solid urban residues deposit, a hospital and a sports center will also be constructed. And we intend to develop a plan of basic infrastructure in the Iglesia and Calingasta Departments”.

“Exeter creó una nueva firma para manejar sus proyectos en la Argentina”, published in El Inversor Energético & Minero (City of Buenos Aires) on July 2010
Exeter Resources Corporation has just concluded the assets separation operation by which it officially left its operations in the country to a new firm specifically created to that end: Extorre Gold Mines. So it was informed by the Canadian mining company in a press release.
Extorre will keep all Exeter’s interests in Argentina, including the strategic alliance with the state owned company of the Province of Santa Cruz, Fomicruz, to conclude exploitation on Cerro Moro-Bahía Laura project, located northeast of Macizo del Deseado. Also, it will take over Don Sixto, in the Province of Mendoza, and many exploration initiatives which take place in Patagonia. The division followed the need for two separate structures to manage their two main projects, Cerro Moro and Caspiche. While the first has estimated reserves of 650,000 ounces equivalent gold, the second has a total of approximately 32.4 million ounces equivalent gold and will require higher extraction investments.

“Crece la producción de acero”, published in La Nación (City of Buenos Aires) on 07/16/2010
Crude steel production registered a 35.1% increase in June as regards the same month on 2009, while it experienced a 4.1% decrease as to the previous month, the Centro de Industriales Siderurgicos (CIS) informed. According to this entity, which groups the main companies of the country, steel production is 420.6 thousand tons. “Some maintenance interruptions and fewer working days in June explain the fall regarding May”, as was informed. In this way, between January and June 2.8 million tons were produced, which means an increase of 47.6% regarding the first semester of 2009.

“Mineras chinas se comprometen a invertir en San Juan, Jujuy y La Rioja”, published in El Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 07/16/2010
National Secretary of Mining, Jorge Mayoral, highlighted that “three important agreements were signed” regarding investments between Asian and Argentine companies in the mining sector, which involve the Provinces of La Rioja, San Juan and Jujuy. “The first agreement was signed between a state-owned company from the Province of Shandong, basically dedicated to gold, Shandong Group Minera, and the state owned mining and energy company from the Province of La Rioja, EMFE”, said Mayoral. “This Chinese company will invest in La Rioja, in Mina El Oro district, in mining prospection and exploration, and has committed to spend the amount of 359 million dollars if a project in the area becomes a reality”, added the officer. Another agreement was signed between the San Juan state owned company, IPEEM, and MCC Group. The project refers specifically to an area located in Iglesia Department known as “La Hortiga”. The third agreement is scientific and technical, between the geo scientific entities from both countries. The agreement established scientific cooperation in cartography.

“Provincias, a la Corte nacional si chocan glaciares”, published in Ámbito Financiero (City of Buenos Aires) on 07/19/2010
The Andean provinces will ask for the intervention of the Supreme Court of Justice if their local glacier protection laws conflict with the national law. Jujuy, La Rioja and San Juan have moved ahead and passed their own legislation on glacier preservation before the National Congress does, facing the possibility of legislation adverse to provincial interests that the opposing parties may impose, endangering the progress of industrial and productive activities such as mining.

“Aseguran que la minería ya genera 500.000 empleos en el país”, published in Infobae (City of Buenos Aires) on 07/21/2010
“This means a 500% growth with respect to 2003” points out a press release of the entity, adding that “the activity also has one of the highest formal employment rates, with averages among the highest in the industrial sectors in the country”
The employment increase in mining sector is due to a strong growth of this productive sector, which includes industrial minerals and rocks, metal minerals, brick manufacturing, limes and cements, precious stones and thermal waters for touristic, therapeutic and medicinal uses.

“Comenzará en diciembre la construcción de nuevo proyecto de oro en Santa Cruz”, published in El Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 07/22/2010
Andean Resources Limited, through its subsidiary Oro Plata S.A., will begin in December construction of the gold and silver project in Cerro Negro, in the Argentine Province of Santa Cruz.
The project, located in a 25,000 hectare property, comprises a total expense of US$ 384 million, of which 275 million will be invested mostly in 2011, using the remaining US$ 109 million for present capital expenses for additional development of the mine, the company informed through a press release. The operation will consist of the sequential exploitation of the three deposits through underground and open pit operations, together with on site mineral processing and refining. Cerro Negro will begin to operate in February 2012 in order to reach its full capacity in July that year. The mine will operate at a daily production rate of 1,850 tons, to produce an average of 200,000 ounces of gold annually during a 10 year lifespan which might extend considering the exploratory potential of Cerro Negro, at an average direct cost of approximately US$ 168 per ounce.

“Minera canadiense halla metales básicos en la provincia de Jujuy”, published in El Cronista (City of Buenos Aires) on 07/27/2010
Mining company Artha Resources Corporation, based in Canada, announced yesterday it has made a “significant finding” of basic and precious metals in the Province of Jujuy. Artha Resources highlighted its assays revealed the discovery has potential to become an important poly-metal deposit.
According to the company’s information, mineralization threw the finding of a 4 km length and 1.5 km width vein in Ivan Alberto project, in Vallecito. The area is located 55 kilometers west of the Abra Pampa Department in Jujuy and 41 kilometers east of Pirquitas mine.
Exploration’s positive results obtained until now encouraged Artha to carry out exploration on the area on over more than 900 square kilometers in areas with high perspectives for silver, gold, basic and rare metals. During the first months of the year, it performed mapping and excavation activities to define objectives for its next drilling programs, scheduled for the third four-month period of the year.

"‹Nadie se imagina un país sin minería›, sentenció Filmus sobre la ley de glaciares”, published in La Nación (City of Buenos Aires) on 07/29/2010
After unanimously passing two bills on the same subject matter over the past three years, the Senate may treat again another initiative to preserve glaciers. But for this curious situation to become a reality, the House of Representatives will have to approve the agreement between Senator for the governing party Daniel Filmus and Representative for opposing party Miguel Bonasso. This setting is an example of the complex debate on a law intended to protect water resources, but brings mining to the center of the discussion. Senator Filmus specified that “the discussion does not need to be for or against mining. It is about finding out if mining may affect glaciers.  The object of the project is related with preserving the water. We make everything possible for different sectors to join this national cause which is taking care of water resources in Argentina”, and added that “Being extremis is not being able to mine all along the Andes, but what we are defining is only 1.5% of its extension”.