Mining News

"Catamarca reafirma su condición de provincia minera", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/01/2010
Eduardo Brizuela del Moral, Governor of the Province of Catamarca, reaffirmed on May 1 his province's mining status, defining this activity as a main development axis, clearly sending a political message to society during a speech at the opening of the local legislative sessions. In his speech, Brizuela del Moral defined new standards for mining development and regulation in his province, providing the performance of territorial-environmental planning, participating environmental monitoring and the creation of environmental trusts, as well as promoting social approval towards mining.
   
"Mendoza: Jaque pide voto para la minería", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/01/2010
A direct claim for representatives to determine an important mining project in Malargüe stood out from Governor Celso Jaque's message yesterday during the opening of the local congress ordinary sessions. Mendoza's premier set his priorities and made it clear to the representatives, requesting a prompt decision on the Sales de Potasio Rio Colorado mining project (located in Malargüe; owned by Brazilian capitals; and with a 4,200 Million Dollar investment forecast).
   
"Producción de oro en alza", published in La Nación (Buenos Aires) on 05/06/2010
Veladero mine in the Province of San Juan reached a 270,000 ounce production in this year's first quarter. This figure triples the one for the same period in 2009. The company stated that the rise evidences the positive impact of the expansion works made at the end of 2009, which allowed it to reach an 85,000 daily ton production capacity.
   
"La UIA y la minería", published in Clarín (Buenos Aires) on 05/06/2010
The Argentine Industrial Union (Union Industrial Argentina or UIA) supported mining in Argentina, for considering it a "strategic tool to become a federal and productive country." This took place during Mining Week held in the Province of Jujuy.
   
"Bicentenario: provincias se aferran a minería para generar recursos propios", published in Ámbito Financiero (Buenos Aires) on 05/07/2010
Argentina's bicentennial festivities inspired the mining sector of the Northwestern region of the county, who decided to extend the Argentine Mining Day celebrations for a whole week in the Province of Jujuy. Thus the province officially known as the «mining capital» became the perfect place to sign the Declaration of the Bicentennial. This agreement is to be subscribed by all provinces which are members to the Federal Mining Council, and is intended to fuel the sector's development. Another important development is expected in Mendoza this year. In light of this possibility, Celso Jaque, the Provincial Executive Branch's premier, highlighted a demand to local legislators during his speech for the opening of the local congress ordinary sessions on May 1: a prompt resolution on the launching of Potasio Rio Colorado, Brazilian Vale Do Rio Doce's mega-project. Apart from demanding a USD 4,200 Million investment, the project's execution would place the province in the international potassium salts market - used mainly as fertilizers- which currently has a direct export line to USA and Brazil, among other countries. Manantial Espejo gold and silver mine in the Province of Santa Cruz, Sierra Grande iron mine in the Province of Rio Negro and Gualcamayo and Pirquitas gold mines in San Juan and Jujuy -launched in 2009- turned over a total of USD 750 Million and employed 8,000 people and almost 800 Small-and- Medium-Sized Enterprises (PyMEs).
   
"La industria minera da señales de desarrollo a futuro", published in Diario Río Negro (Province of Rio Negro) on 05/07/2010
The Mining Manufacturers Union of the Province of Neuquen (Unión de Productores Mineros del Neuquén or Upromin) celebrated a year from its formation and its Chairman, Santiago Sapag, announced an encouraging balance in terms of the market sector's development. Sapag stated that mining generates labor constantly and thus is expected to become a key sector for development. Currently, there are fifteen firms registered as members of this institution and another twenty firms registered as supporters.
  
"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.
   
"La principal minera peruana quiere expandirse a México, Chile y la Argentina", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/10/2010
Buenaventura, Peru's main precious metals producer and Latin America's largest gold producer, intends to expand to other countries such as Mexico, Chile and Argentina. As stated to Reuters by Roque Benavides, the mining company's General Manager, the plan will include investments in these markets as their joint projects with Chinese mining companies make progress and their manufacturing capacity increases.
  
"Minería en alza: en 2009 se facturaron más de U$S 2.800 millones", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/11/2010
Mining exports rose 11.7 percent last year, compared with 2008, and reached a 2,851 Million Dollar billing. These figures were given by Manuel Benitez, Chairman of the Argentine Chamber of Mining Companies (Camara Argentina de Empresarios Mineros or CAEM). During 2009, Argentina launched four mining projects such as Gualcamayo gold and silver project in the Province of San Juan; Manantial Espejo gold and silver project in the Province of Santa Cruz; Pirquitas silver and tin project in the Province of Jujuy; and Sierra Grande iron project in the Province of Rio Negro. These new developments drew 750 Million Dollar investments and 8,000 new jobs, in addition to the on setting of new medium and small sized mining industry service providers. 15 years ago, Argentine mining did not account for 0.3 percent of the Gross Domestic Product and nowadays, its participation ranges between 4 and 5 percent and is rising.
   
"Minería en los pueblos indígenas", published in El Cronista Comercial (Buenos Aires) on 05/14/2010
Mining companies based in the Province of Salta's puna must inform the Indigenous People of Salta Provincial Institute (Instituto Provincial de los Pueblos Indígenas de Salta or IPPIS) on their actions, in order develop relationships and a fluid dialogue. This was determined at a meeting between Ricardo Salas, Secretary of Mining of the Province of Salta and Miguel Siarez, Chairman of IPPIS. Both agreed that the community must benefit from those projects.
   
"$125 Millones por Alumbrera", published in Ámbito Financiero (Buenos Aires) on 05/19/2010
Minera Alumbrera distributed 31.9 Million Dollars (120 Million Pesos) in new profits to Yacimientos Mineros de Agua de Dionisio (YMAD), for the first quarter of 2010. Bajo de la Alumbrera mining development is located in the Province of Catamarca and is exploited by an Argentine Joint Venture (Union Transitoria de Empresas or UTE) formed by YMAD and Minera Alumbrera, under the agreement executed by and between them in 1994. As per the benefits stipulated in said agreement, YMAD collects 20 percent of all profits. YMAD is formed by the Province of Catamarca and Tucuman National University. YMAD collected 654 Million Dollars in the last four years on this account. The mine is operated by Xstrata, a diversified mining group which holds 50 percent of the investment, while Canadian Goldcorp and Yamana Gold hold 37.5 and 12.5 percent respectively.
   
"Estudio de prefactibilidad", published in La Nación (Buenos Aires) on 05/20/2010
The Canadian company Pan American Silver is working on a pre-feasibility study for its Navidad Project in the Province of Chubut, one of the world's largest silver deposits. In order to carry out their investment, the company requires a change in the legal framework allowing it to operate the mine through open pit method.
  
"Gigante uranífero desembarca en el país para explorar yacimientos en tres provincias", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/20/2010
Despite that Argentina is not an active uranium producer since 1998, when the last operating deposit was closed down (Sierra Pintada in the Province of Mendoza), its uranium reserves are vast, with fields confirmed in the Provinces of Chubut and Mendoza, and could be larger in the future. The under-exploiting of the country is what attracted Cameco, one of the planet's greatest uranium producers (Areva being the other one) to these lands. The Canadian company purchased 51% of the stock of Energia Mineral, an affiliate of Calypso Uranium, a junior with assets in the Provinces of Neuquen, Chubut and Mendoza. The operation shall be formalized in July -for when approval by the Toronto Stock Exchange is expected- and includes five exploratory prospects: Ranquil Co and La Pintada in the Province of Mendoza; Campesino Norte and Bloque Central in the Province of Neuquén; and Cuenca San Jorge in Chubut.
    
"La CNEA avanza con la exploración de uranio en la meseta de Chubut", published in El Patagónico (Provincia de Chubut) on 05/04/2010
Cerro Solo deposit contains approximately six thousand tons of uranium which could be exploited starting on 2012, under an agreement entered into by and between the National Government and the Province of Chubut. Noemi Boero, Chairman of the National Atomic Energy Commission (Comisión Nacional de Energía Atómica or CNEA) considered that "no province can determine by means of a decree or law, the exploitation method of any deposit" and held that "a political decision does not determine the exploitation method" of the uranium deposit in the Cerro Solo area of the Province of Chubut. In addition, she stated that the laws which prohibit open pit mining "must be revised." Concurrently, Juan Garitano, the Minister of Environment of the Province of Chubut, confirmed that currently CNEA is exploring a uranium deposit in the central area of the Province of Chubut. The minister explained that "they are at an exploration stage and informed that they shall be ready for the exploitation stage on 2012, though they do acknowledge that the law needs to be modified."
    
"San Juan: avanza la exploración de uranio en Chepical", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/27/2010
Jackson Global started drilling in the area after obtaining very good results in preliminary prospecting works. It is the first company to carry out this activity in the area.
    
"Inversores indios interesados en buscar oro y plata en San Juan", published in El Inversor Energético & Minero - Newsletter Diario (Buenos Aires) on 05/31/2010
Mining in the Province of San Juan attracted Asia as well: EREP SAC exploring company, an affiliate to Hindu OSWAL PROJECTS LTD, confirmed a 700 Thousand Dollar investment to seek gold, silver and precious metals in the district of Iglesia to the Provincial Secretary of Mining, last Friday. The company presented an exploration program last Friday in the Province of San Juan which it intends to initiate next June. Said program consists of a series of drillings in order to obtain base and precious minerals in El Carrizal, located in the district of Angualasto, Iglesia, approximately 200 kilometers West of the province's capital.