Copper: McEwen Highlights Argentina Presence and Investments in Los Azules in Quarterly Results
The Canadian company sees revenue growth and commits to copper development in the country.
Magazine
Argentine lithium producer Exar, operating in the Cauchari-Olaroz salt flat in Jujuy, has announced its first-ever issuance of Corporate Bonds (Obligaciones Negociables, ON), marking a first for the sector in the country. The bond auction will take place on Thursday, September 7, and the funds raised will primarily be allocated to working capital and refinancing liabilities to support the company's ongoing operations.
Astra Evangelista (AESA), with 75 years of experience, positions itself as a key player in the development of the mining and energy sectors in Argentina, offering comprehensive solutions to the oil, energy, and mining industries. The company, which employs nearly 9,000 people across various Argentine provinces, including Tierra del Fuego, Santa Cruz, Chubut, Río Negro, Neuquén, La Pampa, Mendoza, and Buenos Aires, has strengthened its presence in strategic areas such as the province of Jujuy, where it has begun actively collaborating with the lithium industry, one of the country’s most dynamic and rapidly growing sectors.
The Australian mining company Galan Lithium Limited has announced significant progress at its Hombre Muerto West (HMW) lithium brine project in Catamarca Province, as part of activities carried out during the third quarter of 2024. The company highlighted that it became the first mining company to apply for Argentina's Large-Scale Investment Incentive Regime (RIGI), which offers tax benefits to large-scale projects in strategic and productive sectors like mining. "This initiative, combined with construction progress and a recent capital raise, reinforces Galan’s commitment to developing its projects in Argentina," the company stated.
Join our mining community!
Subscribe to our newsletter for exclusive news, insights, and updates on the mining industry and Panorama Minero's latest initiatives.
MARA has launched an exploration campaign at Campo de Río Blanco, Andalgalá department, to deepen geotechnical, hydrological, environmental, and soil studies in the area surrounding the Agua Rica deposit.
Minsud Resources Corp. announced the successful completion of its Phase IV infill drilling program at the Chinchillones prospect within the Chita Valley Project, located in San Juan Province. A total of 126 drill holes have been completed at this prospect since 2020. The results from the last ten (10) drill holes have helped to confirm the boundaries of the mineralized zone, refine the geological model, and enhance our understanding of the prospect.
French company Eramet has completed the acquisition of Tsingshan Group’s 49.9% minority stake in Eramine Sudamérica, the subsidiary operating the Centenario project, a strategic resource in Argentina’s Lithium Triangle. The transaction, which impacts the Group’s net debt by US$699 million, grants Eramet full ownership of this key asset in its lithium expansion strategy.
Canadian company McEwen Copper, a subsidiary of McEwen Mining with operations in San Juan, has closed a new US$35 million investment made by Nuton LLC, a company led by Rio Tinto. "This investment is part of a previously announced financing offer, consisting of a private placement of up to 2,333,333 common shares at a subscription price of US$30 per share, for a total of up to US$70 million."
Posco Argentina, a subsidiary of the South Korean mining company Posco, has taken a crucial step in developing the country's lithium sector with the inauguration of the first commercial lithium hydroxide plant. Located in the General Güemes Industrial Park in Salta Province, the plant has an annual production capacity of 25,000 tons and represents an investment of over US$800 million. "This facility positions Argentina as a key supplier in the global lithium-ion battery market, essential for high-end electric vehicles," provincial government officials stated.
The exploration junior Sable Resources Ltd. has commenced its field activities at the Don Julio Project, located in the province of San Juan. The company, listed on the TSX Venture Exchange, has confirmed that all exploration expenditures for this project are fully funded under an Earn-In Agreement signed in 2021 with a subsidiary of South32 Limited.
The Hualilán project received its Environmental Impact Statement for production. Sonia Delgado, Director of Challenger Gold and Vice President of Golden Mining S.A., comments on this significant date for the venture located in the Ullum department, San Juan province.
The project includes construction and expansion work on mining roads, with the objective of ensuring transit between mining areas of interest and local communities or production centers.
NGEx Minerals Ltd. announced that its Phase 3 drill program has begun at its 100%-owned Lunahuasi property located in San Juan province, Argentina. The Phase 3 program follows a highly successful Phase 2 program completed in the first half of 2024, which delivered some of the highest-grade copper, gold, and silver intercepts drilled anywhere in the world and confirmed that Lunahuasi has both unusually high grades and large size potential. Phase 3 drilling intends to grow the deposit through step-out drilling and provide enough closer-spaced data to develop an initial Exploration Target as provided for in NI 43-101.
Lindero Mine, the first open-pit gold mine in Salta province, has reported strong performance during the third quarter of 2024, remaining on track with its annual gold production projections. During this period, gold production reached 24,345 ounces, a 6% increase compared to the previous quarter, largely due to higher ore grades and increased ore processing.
The movements of a constantly evolving industry and the political-economic transformations are directly impacting the country's prospects and possibilities.
Global volatility and its effects on Argentina were the central theme of JP Morgan’s analysis at the region’s largest lithium conference. The country's mining potential, fully influenced by international circumstances, and the need for swift decision-making on the domestic front.
The French firm took another step toward the industrialization of lithium in the Lithium Triangle, this time in the province of Salta.
With the presence of national and regional mining sector leaders, the second edition of the Symposium on Artificial Intelligence Applied to the Mining Industry will take place at the National University of Salta. Laplace (Argentine Mining Workers Association), Royón (Lithium Task Force), Cacciola (Argentine Chamber of Mining Companies), and representatives from companies and industry chambers will be present.
They will exceed US$ 1.5 billion and are expected to generate more than 5,000 direct and indirect jobs over the next 20 years.
I have seen several proposals for defining Mine Closure, and I have also had the opportunity to review applicable regulatory frameworks, which include a set of obligations related to the environmental and social factors inherent to the activity in general and to each specific project. However, there is a contributory work plan of greater added value on which mining could be a notable contributor.
In the province of San Juan, the Forum of the National Sun Festival, to be held between October 31 and November 1, will feature inspirational speakers, business roundtables, and discussion panels on strategic topics. The event will take place at the Teatro del Bicentenario and the Civic Center of the city.