The Government of Catamarca has officially confirmed the return of Fernando Jalil as chairman of Yacimientos Mineros de Agua de Dionisio (YMAD), closing a period of intense political negotiations that culminated in the reconfiguration of the company’s board of directors.
By Panorama Minero
The appointment was formalized through Decree No. 47/2026 issued by the Ministry of Mining and signed on January 22 by Governor Raúl Jalil. The decision consolidates provincial control over YMAD following the agreement with the federal government to withdraw from the company, a process that was fully resolved on December 15.
Jalil’s return represents the final step in the agreement reached between Governor Raúl Jalil and President Javier Milei, under which Catamarca assumes the authority to appoint the chairman and two board members of YMAD, while the remaining two directors are designated by the National University of Tucumán (UNT). As a result, the company’s ownership structure now stands at 60% Catamarca and 40% UNT, eliminating federal government participation in strategic decision-making.
Fernando Jalil previously served as chairman from March 2020 to April 2024, throughout the administration of former President Alberto Fernández. During that period, he implemented significant changes, most notably the permanent relocation of YMAD’s headquarters to the city of San Fernando del Valle de Catamarca, in line with the company’s founding legislation. “For 24 years, YMAD presidents were based in Buenos Aires. When we took office, the first decision we made was to bring the company back to Catamarca, as mandated by law,” Jalil stated at the end of his first term.
The relocation had a direct economic impact on the province, as suppliers and mining stakeholders were required to operate locally, generating increased activity across the hotel, gastronomy and services sectors.
Following the inauguration of President Javier Milei, Jalil continued at YMAD as a board member alongside Ángel Mercado, while the chairmanship was assumed by Juan Pablo Limodio. That arrangement remained in place until negotiations between Catamarca and the federal government resulted in what provincial authorities have described as a historic agreement.
The deal, signed in December, included several key components. Amendments to the Farallón Negro Agreement formalized the new ownership structure without federal participation. Earlier, the provincial government had secured the transfer of the Minas Capillitas complex to CAMYEN (Catamarca Minera y Energética) and, in return, withdrew ongoing legal claims against the federal government, consolidating provincial control over two strategic mining assets.
With Jalil’s return to the chairmanship, former Minister of Mining Marcelo Murúa was appointed as a board member at YMAD. Murúa, who led the provincial mining portfolio since 2021, was succeeded by Teresita Regalado, Secretary of Mining Development, a mining official with extensive experience dating back to the 1990s.
YMAD was established in 1958 as an interjurisdictional company to manage the Farallón Negro mining district. The company held an interest in Bajo de la Alumbrera until 2018 and currently manages strategic mineral resources, including participation in new projects such as MARA. During his previous term, Jalil highlighted that YMAD generated profits and prioritized projects benefiting Catamarca, allocating funds to infrastructure works in areas surrounding Farallón Negro. His leadership was widely regarded positively by the Chamber of Mining Suppliers.
