Province of Santa Cruz Law No. 3290, passed on 10/25/2012, enacted by the Executive Power on 10/29/2012 (published in the Official Gazette on 10/30/2012)

This Law repeals Article 16 of Law 2322, which established that: “The maximum amount of the Mining Royalty consists of three per cent over the pit-hole value of the extracted mineral, subject to incentive privileges.” The new Law establishes that: “The amount due as mining royalties will be three per cent over the pit-hole value of the extracted mineral.” In consequence, according to the new law it is not possible to continue enjoying the incentive privileges, and every mining company must, with no exceptions, pay 3% as royalties.