Court fines top gold producer 145m pesos over September cyanide spill at its Veladero mine in San Juan province.
Argentina Mining News
A large and high-grade lithium brine lake and associated salar with low contaminants has recently been discovered in Argentina.
Analysts believe that Barrick’s partner in Papua New Guinea, Zijin Mining Group, could be the one to help turn Pascua-Lama into a success.
Serial entrepreneur Paul Matysek got involved with the Lindero gold project in Argentina on Nov. 1, 2012. “People are now thinking that Argentina may become the darling of South America,” Matysek said.
President Mauricio Macri has revoked a 5% tax imposed by the previous administration on mining companies.
The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.
Chile's Invierno coal mine is, by far, the southernmost mine on the planet.
Canadian merchant bank Aberdeen International (TSX:AAB) has purchased a lithium-potash project in Argentina through a share purchase agreement valued at CAD$5 million.
The miner said current market conditions are not supportive of a private placement on terms the company would find acceptable.
The miner is seeking strategic alliances with battery or car manufacturers to underpin the development of its Jadar lithium-borate project in Serbia.
President-elect Mauricio Macri will lift the clamp-down on dollar purchases by out-going president Cristina Fernandez, as early as December 14.
Argentina last week voted in a new pro-business President, Mauricio Macri.
Samples "showed no deviation from measurements taken in June 2015".
He said the over 1,000 cubic metres of liquid cyanide spilled into a local river did not cause any environmental damage to justify keeping operations suspended.
Argentina’s presidential election, the first to be decided in a second and final round since the constitution was changed in the 1990s, will be key for the country’s economy, particularly its mining sector.
Local judge had initially ordered a five-day suspension of the leaching process, but has decided to extend it “as a precautionary measure."
The judge also ruled that a group of independent specialists should inspect the mine and take samples of soil, water and nearby vegetation.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
The return to higher exports would be driven in part by at least 16 major projects likely to go into production within five years.
The El Gallo mine produced 15,243 ounces of gold in the first quarter ended March 31, prior to an armed robbery of concentrate containing 6,350 ounces last month.
Catherine Raw, from one of the UK mining sector's best known fund managers, is assuming as the company's Business Performance Executive Vice President.
The company's stock is being ripped apart on both, the New York and the Toronto Stock Exchanges as a result.
As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.
Chinese companies, private equity firms including Mick Davis’s X2 Resources, and even Teck Resources are rumoured to be among the potential buyers.
The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.