Mining News

“The exploration of a gold project in Santa Cruz moves forward”, published in “Inversor Energético & Minero – Newsletter Diario” (City of Buenos Aires) on 03/04/2011
Minera IRL Limited is carrying out a feasibility study at the Don Nicolás gold project in the Argentine Patagonia. The company owns properties which contain an over 350,000 Oz. gold reservoir measured to the date, and several exploration prospects.

“The construction of a lithium carbonate project in Jujuy moves forward”, published in “Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 03/04/2011.
Rodinia Lithium has informed the reception of an estimate of independent lithium resources for their Salar Diablillos, in the Province of Salta, performed by AMEC Internacional Ingeniería y Construcción Limitada. The report informs an inferred brine resource of 932,000 Tn of metal lithium (Li), 10,404,000 Tn of potasium (K) and 1,083 million tons of boron (B), equivalent to 4,959,000 Tn of lithium carbonate (LCE), 19,837 Tn of potassium chloride (PE) and 6,194,000 Tn of B203 (boric acid). The project has a 3.68 magnesium-lithium ratio average and a 14.48 average lithium ratio sulfate.

“One of the largest mines is sold”, published in La Nación (City of Buenos Aires) on 03/09/2011
Xstrata Copper and Goldcorp Inc., principal shareholders of Minera Alumbrera, signed a letter of intent yesterday which grants them an exclusive option to acquire 100% of the shares that Yamana owns in the copper and gold project Agua Rica, located in the Province of Catamarca. The Agua Rica deposit is located 35 kilometers southwest of the copper and gold mine Bajo de La Alumbrera, operated by Minera Alumbrera. The operation, which is conditioned to the execution of all mandatory documents related to the transaction, grants Minera Alumbrera, for a four-year term, the exclusive option to acquire Yamana’s shareholding in the Agua Rica project, through progressive investments for a maximum amount of 110 million dollars, according to a press release by Xstrata Copper.

“Local mining industry expects investments for AR$130,000 million”, published in “Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 03/09/2011
During the World Mining Explorers and Producers Fair (PDAC 2011), Argentina made a presentation in Toronto (Canada) on opportunities for the development of mining projects in order to attract new investments and to promote the commerce of minerals and by-products. “The country expects investments for over AR$130,000 million  over the next years and the construction of at least 15 new international projects”, stated the Mining Secretary, Jorge Mayoral, who headed a delegation of 150 mining businessmen representatives, companies and mining public officers that took part in this international meeting.

“An Argentine delegation will travel to China in search of mining investments” published in “Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 03/15/2011
The Mining Secretary, Jorge Mayoral, received representatives of the Chinese Natural Resources Ministry in order to organize the Argentine presence in the international fair China Mining 2011, which will take place during November 6-8, 2011 in the City of Tianjin. An Argentine Mining Pavilion will be at display for producers, suppliers, professionals and representatives of Argentine provinces to give presentations on the offer of the national mining industry.

“The world’s largest lithium plant is inaugurated in Salta”, published in “Inversor Energético & Minero – Newsletter Diario (City of Buenos Aires) on 03/21/2011
The Mining Secretary, Jorge Mayoral, together with the Governor of the Province of Salta, Juan Manuel Urtubey, headed the inauguration of a new plant for the production of lithium carbonate in Salar del Rincón. Salar del Rincón is the world’s highest altitude project, at over 3,900 meters above sea level, at 150 kilometers from San Antonio de Cobres, and within few meters of the Chilean border. With facilities covering an area of over 3,000 square meters (m2), the plant –which is the largest in the world and has a 100% Argentine design- will process the mineral, incorporating added value for the production of lithium carbonate.