During May, the latest reporting period by the Secretariat of Mining, 16 mining projects in production achieved exports worth US$372 million. This value represents a year-over-year growth of 24.5% and accounts for 97.1% of the total mining exports made during the month.
The Secretariat of Mining and Energy of Salta has issued the Environmental Impact Statement (EIS) for Potasio y Litio Argentina S.A. (PLA S.A.) to begin the construction of a commercial plant for lithium carbonate production in the Diablillos Salar. With this permit, Salta now has six lithium projects under construction, positioning itself as a significant player in the region.
Pampa Metals Corp. provided a summary of its highly successful maiden drill program at the Piuquenes porphyry project, San Juan province. The Piuquenes project was optioned on 30 November 2023 and the Company mobilized a 3 diamond drillhole program for 2,592m on 7 December 2023.
Minsud Resources Corp. announced the receipt of assay results from five additional drillholes, which were completed as part of the ongoing Phase IV infill and scout drilling program at the Chita Valley Project, San Juan Province.
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The Argentine mining sector reported exports totaling US$383 million in May 2024, registering a 21.5% year-on-year increase. San Juan regained its position and established itself as the leading exporting province, followed by Santa Cruz.
In May 2024, mineral exports totaled US$383 million, accumulating a total of US$1.577 billion in the first five months of the year. These figures represent 5.5% of Argentina's total exports in May and 5.1% for the year-to-date. Reported by the National Mining Secretariat, this performance reflects a 21.5% year-on-year increase in May, despite a 3.5% decrease in the year-to-date total. Compared to the 2010-2023 average, the 2024 year-to-date total is 5.9% higher.
Mining companies must adapt to uncontrollable events to maintain their operations and profitability. In this regard, current mitigation strategies still present significant challenges that must not be overlooked.
Latin American mining is experiencing an exceptional moment given the excellent outlook for copper and lithium. Alongside the favorable prices for the red metal, there are significant investment plans to exploit the continent's lithium reserves.
The French chemical and mining company, Group Eramet, reported its economic contribution in Argentina focusing on the growth of its Centenario lithium project, which is soon to enter production in the province of Salta and is operated through its local subsidiary Eramine Sudamérica.
McEwen Mining Inc. announced a new investment of up to $70 million in its subsidiary McEwen Copper Inc. This investment will be made through a private sale of up to 2,333,333 common shares of McEwen Copper at a price of $30.00 per share, and will be mainly focused on the growth of the Los Azules copper project, one of the five megaprojects located in the province of San Juan.
The leading lime company in Latin America has ignited its new kiln, capable of producing about 600 tons of calcium oxide per day, making it the largest in the region.
Canadian company American Salars Lithium has reached an agreement to acquire full ownership of the Pocitos 1 Project in Salta, located in the namesake salar, currently managed by Recharge Resources, the vendor.
In recent weeks, the Argentine community has been debating, through its legislators, the possibility of advancing a political measure launched by the National Government to attract large investments. In this context, the San Juan Productivity Board has expressed its views on the relevance of the "Ley Bases" and the Regime of Incentives for Large Investments (RIGI), voicing its support for this tool that promises a new beginning for mining while ensuring significant flows of international capital.
The Altar Copper-Gold Project, operated by Aldebaran Resources Inc. (TSX V.ALDE), continues to stand out with significant exploration results.
The construction equipment industry in India is on the upswing, driven by several factors such as rapid infrastructure development, mining and urbanisation. bauma CONEXPO INDIA will bring together all these demand and supply-side forces at the India Expo Mart, Greater Noida, Delhi NCR, from 11 to to 14th of December 2024.
In a day marked by intense deliberations in the Argentine Senate, the Bases Law has finally been approved, a legislative milestone that clears the path for the implementation of economic policies proposed by President Javier Milei.
Blue Sky Uranium announced an agreement with Corporación América, the group led by businessman Eduardo Eurnekian, to advance the Ivana uranium deposit to feasibility stages and then to commercial production. The venture is located in Río Negro and is one of Argentina’s most recognized projects related to the gray metal.
Salta hosted the 46th Ordinary Assembly of the Federal Mining Council (COFEMIN), an event that brought together representatives from all 23 provinces of the country and the National Secretary of Mining, Luis Lucero. The opening was led by Romina Sassarini, Secretary of Mining and Energy, who presided over the assembly.
Based on a recent report from the national mining department, the ratio between imports and exports of mining projects saw a significant increase in April 2024 compared to the same period the previous year.
In April 2024, mineral exports reached a value of $267 million, accumulating a total of $1.134 billion in the first four months of the year. This represents a year-on-year decrease of 9.9% for April and a 13.9% drop for the year-to-date. Additionally, according to estimates from the National Secretariat of Mining, the accumulated total for 2024 is 6.2% below the average recorded between 2010 and 2023 for the same months.
The tenth edition of the international exhibition "San Juan Mining Expo" organized by Panorama Minero since 2006, was the site of a historic meeting in the mining industry.