Mining News

"Prevén que la Argentina duplicará sus exportaciones de uranio", published in La Prensa (City of Buenos Aires) on 06/01/2010
This was forecast by President Cristina Fernández de Kirchner during the celebrations of the 60th Anniversary of the National Atomic Energy Commission (Comisión Nacional de Energía Atómica or CNEA). "As explained to me by Norma Boero, head of the office, we are producing low-enrichment uranium under 20, which places us at the forefront of this area. In addition, we are supplying all local manufacturing demand and exporting a third to our main MERCOSUR partner, the Federal Republic of Brazil, which will enable us to double our exports by the end of the year", she stated.
 
"Inversión minera", published in La Nación (City of Buenos Aires), on 06/02/2010
Latin American Minerals, a mining company, will invest AR$ 170 Million in a lithium production Project in the high plateau of the Province of Jujuy. The funds will be used to develop a pilot treatment facility and other infrastructure works in the deposit. Currently, the project is at an advanced exploration stage and employs 100 people in the high plateau region. Latin American Minerals is a Canadian capital company which operates in Argentina and Paraguay.
 
"La japonesa Mitsubishi y una minera canadiense producirán litio en Jujuy", published in El Cronista Comercial (City of Buenos Aires) on 06/02/2010
Yesterday, Canadian mining company Latin American Minerals and Japanese Mitsubishi Materials announced a joint lithium production project in the Province of Jujuy. The project was filed with the Secretary of Mining that same day, and according to a press release, it is "at an advanced exploration stage". Latin American Minerals obtained over AR$ 170 million to develop the feasibility of the Salar Caucharí project located in the high plateau of the Province of Jujuy. This was informed by company officials to the Secretary of Mining of Argentina, Jorge Mayoral, during a meeting held yesterday to assess the project's progress and investment program. In this context, Latin American Minerals officials announced that during this year, they will allocate the funds to develop a pilot treatment facility, the mining camp and infrastructure works, in order to complete the constructions for the development. Currently, the project employs 100 people in the high plateau region of the Province of Jujuy.
 
"Mayoral: Al menos 12 proyectos mineros generarán inversiones por $ 130.000 millones", published in El Cronista Comercial (City of Buenos Aires) on 06/03/2010
The Secretary of Mining of the Ministry of Federal Planning, Public Investment and Services, Jorge Mayoral, jointly with the Governor of the Province of San Juan, José Luis Gioja; the President of the Mining Chamber of the Province of San Juan, Ricardo Martínez; and the President of the Mining Engineers Center of Argentina, Jaime Bergé, lead the opening ceremony of the 3rd "San Juan: Factor de Desarrollo de la Minería Argentina" International Exhibition. During the convention, Mayoral pointed out that from 2003 onwards, mining has grown to record levels, regarding investments, projects, production, exports and providing employment. "Currently, we have increased the setting of new developments by 900%; investments have grown 1,100%; we have tripled our production and created over 350,000 job positions", he stated. Additionally, he ascertained that the launching of at least 12 projects of international magnitude; the country will receive investments in the amount of AR$ 130,000 million and 350,000 new jobs positions will be provided.
 
"En 2010 repuntó la demanda laboral en la gran minería", published in Diario de Cuyo (Province of San Juan) on 06/05/2010
Mining companies operating in Argentina, exposing in the "Ist Feria del Trabajo" (Work Exhibition) were resolute: this year took-off in contrast with 2009 -which was a poor year due to the financial crisis. Large scale mining employment demand has matched 2008's outstanding figures. Industrialists consider that upon the development of other projects, the local market shall require mining engineers, geologists and technicians. However, they did not provide estimates. Yesterday, students and recent graduates had the opportunity to meet "face-to-face", representatives from 12 mining companies operating in the Province of San Juan. This was a first-timer for the province and over 120 young students and professionals filled the conference room of the 3rd "San Juan: Factor de Desarrollo de la Minería Argentina" International Exposition, which ended yesterday.
 
"San Juan: dos proyectos de cobre aceleran su explotación", published in El Inversor Energético & Minero - Newsletter Diario (City of Buenos Aires) on 06/08/2010
They are mega-projects entailing a USD 3,000 million investment each. "Remember their names, Los Azules and Altar. They are the upcoming mega developments", declared José Luis Gioja last week, while touring the stands of the ExpoMinería exhibition, held in the Province of San Juan. Yesterday, the Secretary of Mining of the Province of San Juan, Felipe Saavedra provided the details: "Both projects have achieved outstanding results in the previous campaign; they are making progress rapidly and they look forward to obtaining a pre-feasibility permit for exploitation for the end of the year". According to official releases, by the end of the year, as a result of the good outcome of its assays, US Minera Andes could be completing a pre-feasibility study to exploit Los Azules, its copper project located in the Province of San Juan. Canadian Peregrine Diamonds and Peregrine Metals also expect good news this year, concerning the amount of resources and the confidence level to exploit Altar, the copper deposit located in the Province of San Juan. Both projects are copper deposits; they share territory (located at Calingasta, approximately 20 km apart, North of Pachón -another possibility of the province in terms of copper) and -known only by a few- their size is as significant as Pascua-Lama bi-national mine. By the size of the deposits, they are known as "world class" mines, such as Pachón, which will require investments close to USD 3,000 million.
 
"Salta espera inversiones por más de U$S 700 millones en cuatro años", published in El Inversor Energético & Minero (City of Buenos Aires), June 2010.
The province has a series of stakes in progress. Among them, the construction of a lithium carbonate mine by ADY Resources, and the exploitation of Lindero, a gold deposit owned by Mansfield. As estimated by the Secretary of Mining of the Province of Salta, run by Ricardo Salas, the development of said projects shall turn over USD 700 million in the following four years. In turn Mansfield is on the hunt for the USD 218 Million it needs to build Lindero. The Canadian capital company is submitting the project to public offer in the Toronto Stock Exchange in order to obtain financing. Another important project is Minera Quebar's (formerly Silex Argentina) development of a silver, lead and zinc deposit. The company will invest AR$ 20 Million to intensify the formation's exploring. It will perform a series of mineralogy assays through a tunnel, in order to determine the field's reserves. The project will require an investment of the aggregate amount of USD 100 Million. Silver Standard's Diablillos will require a similar amount to exploit gold and silver. The company has announced that once the construction of Pirquitas is completed in the Province of Jujuy, it will relocate its work teams to the Province of Salta to carry on with the development of Diablillos. Precious metal developments are also under consideration. Taca-Taca, a massive gold deposit operated by Global Copper is making progress with the project's pre-feasibility studies.
 
"Litio: el país tendría tres veces más reservas que las previstas", published in El Inversor Energético & Minero (City of Buenos Aires), June 2010
According to data provided by the United States Geological Service (USGS), Argentina has an 800,000 Tn² lithium reserve. However, this figure could triple in the short term and reach 2.5 Million Tn².
 
"Scioli anunció el hallazgo de carbón en el partido de Laprida", published in Infobae (City of Buenos Aires) on 06/10/2010
The Governor of the Province of Buenos Aires announced the discovery of an underground mineral coal deposit in the district of Laprida, which constitutes the first finding of this nature in the history of the province. Scioli made the announcement at midday in the Government Palace, during a meeting held with representatives of Barrancas del Sur Minera -owned by Panamerican Energy- and government officials. Ezequiel Palleja, the Director of Mining Activities of the Province of Buenos Aires, stated that "a mineral coal deposit was discovered in the district of Laprida" at 500 and 800 meters below the surface. Palleja indicated that in order to proceed to the exploitation, it must be determined "if the concentrations of mineral coal are marketable", which could take "a significant amount of time". Laprida, the area in which the discovery took place, is located on the valley which links Sierra de la Ventana with Sierra de Tandil, the two main ranges of the province. Palleja also affirmed that during the meeting held in Scioli's office, he announced that "correspondingly, the province is performing an intensive study on coal exploitation to avoid environmental damage". The coal found in Laprida -if marketable- may be used for energy purposes; to produce electricity; in metallurgy; or in the cement industry.
 
"Asumió Jorge Eremchuk como nuevo secretario de Minería", published in Diario El Ancasti (Province of Catamarca) on 06/11/2010
Governor Brizuela del Moral accepted the resignation of José Sinner, Secretary of Mining of the Province of Catamarca and José Luis Molina, Director of the Secretary of Mining of the Province of Catamarca, and promoted Enrique Eremchuk, the former Undersecretary of said authority to Secretary of Mining. Concurrently, Brizuela modified the structure of the office and established the Environmental Mining Management Office (Dirección de Gestión Ambiental Minera), which will have delegations throughout the province, as announced in his speech delivered in May . Eremchuk took office seeking conciliation between the different mining sectors and promised to pay special attention to community and environmental requests. "Mining development is not possible under social conflicts and all sectors must work on this", he stated.
 
"Minerales de exportación", published in La Nación (City of Buenos Aires) on 06/15/2010
The Province of Salta informed that its mining exports rose 49.84% in this year's first trimester, compared with 2009. During last year's first trimester, mining exports added 24,321 tons for an aggregate amount of USD 19.4 million, while in 2010, they reached 36,443 tons, for an amount over USD 27 million. The Provincial Government pointed out that the Province of Salta is one of the world's main borate producers.
 
"Inversión en el Salar del Hombre Muerto", published in Diario El Ancasti (Provincia de Catamarca) on 06/15/2010
During a press conference, the Mining Secretary of State stated that a company will be making a large investment to increase the lithium production in Salar del Hombre Muerto. The investment will be made under an agreement with the Government of the Province of Catamarca. As explained, this investment will allow lithium production to rise between 20 percent and 30 per cent. In turn, lithium carbonate production will have a 25 per cent increase and potassium chloride production will be initiated. "To such end, the company will invest USD 25 million", affirmed the official.
 
"Promesa de reglas estables a la minería", published in La Nación (City of Buenos Aires) on 06/27/2010
"They just congratulated me". Filled with pride and with no intention of referring to sensitive matters, the Argentine President began her outline of the lunch she had with 20 industrialists interested in making mining, foods and telecommunications investments in Argentina. The executives invited by Peter Gold, Barrick Gold's founder, were the Royal Bank of Canada (Canada's largest bank), Grupo Cisneros, Panamerican Silver, Oro Cobre, Lithium Americas and Loblaw. Munk and the other mining executives were satisfied by the Argentine President's reassurance that the rules will not change; which is very important for a long-term investment. This was ratified by the governors who were present: Juan Manuel Urtubey, from the Province of Salta; José Luis Gioja, from the Province of San Juan; Gerardo Zamora, from the Province of Santiago del Estero; Luis Beder Herrera, from the Province of La Rioja, and Walter Barrionuevo, from the Province of Jujuy. Although Beder Herrera had announced that the provinces intended to negotiate a higher royalty, the Argentine President's words and the promises of investments put paid to the demand.
 
"En medio del debate por la minería Diputados apuró la explotación del cobre en Uspallata", published in Diario Uno (Province of Mendoza) on 06/30/2010
The Provincial House of Representatives passed a draft of a resolution instructing the Environmental Impact Office to inform the status of the proceedings for the permit of project San Jorge, aimed for the extraction of copper in the area of Uspallata. This project has been expecting a public hearing for more than a year and a half. The mine is owned by Coro Mining Corporation, a Canadian state owned company which makes public offering of its shares. This company is on its way to becoming a world medium-scale copper producer and project San Jorge is precisely its main business expectation. The mine is located 42 kilometers North of Uspallata. The company expects to extract 40,000 tons of copper (and gold as a sub-product) during the 16 years of exploitation from a mount no higher than 100 meters, which barely matches Cerro de la Gloria's dimensions, through a USD 277,000,000 initial investment.