Salta: Governor Saenz and the National Mining Secretary assessed the status of the Taca Taca copper project
It occurred during a meeting with First Quantum Minerals and its subsidiary Corriente Argentina S.A. The National Mining Secretary also participated. "This is one of the most important projects that could change the productive matrix of the province," the government stated.
By Panorama Minero
At the Government House of Salta, Governor Gustavo Sáenz met with executives from First Quantum Minerals and its subsidiary Corriente Argentina S.A., which are overseeing the Taca Taca copper project in the Tolar Grande region. John Dean, Feasibility Projects General Manager, and Germán Pérez, Finance and Administration Superintendent, attended the meeting. Also present were the National Mining Secretary, Flavia Royón, and the Casa de Salta delegate, Martín Plaza.
"The company reiterated its commitment to carry out the project's construction in the short term, complying with the environmental and social regulations established by the province."
El gobernador Sáenz evaluó el estado del proyecto de cobre Taca Taca
"We continue to coordinate with the national government to adjust the fiscal conditions to set the project in motion," said Sáenz at the end of the meeting.
Taca Taca is a world-class copper mine that involves an investment of over US$3.5 billion and is expected to create around 9,000 direct and indirect jobs at its peak construction phase.
"This is one of the most important projects that could change the productive matrix of the province and would generate exports of US$2 billion annually, making mining the main economic activity in the province.
Magazine
Events
Do you want to receive news about the sector and Panorama Minero initiatives?
Next Tuesday, May 21, Wednesday, May 22, and Thursday, May 23, Argentine mining will gather at the San Juan Mining Expo 2024, the most important sector event of the year, where strong decisions about the future of the activity are expected. Six governors, the Secretary of Mining of the Nation, and the main mining and supply companies will be present at the event, with the participation of key actors from both the local and international levels. The exhibition comes at a crucial moment for the industry amidst discussions about the RIGI and the need to energize major projects.
According to the annual report from Canada's Fraser Institute, Salta has managed to position itself as the leading province nationwide in two fundamental aspects for the mining industry.
Eramet announced that it is ready to mark a milestone in the Argentine industrial landscape with the upcoming inauguration of its production plant in the province of Salta.
In a context marked by the discussion on the "Large Investments Incentive Scheme" (RIGI) and the Base Law, the Argentine Chamber of Mining Companies (CAEM) and the Argentine Chamber of Mining Suppliers (CAPMIN) have issued a series of statements highlighting the importance of this measure for the development of the mining sector and the national economy.
McEwen Copper, the company developing the Los Azules copper project, announced that it has reached the milestone of US$230 million in investment over the nearly three years it has been exploring the mega-project located in San Juan, Argentina.
Arcadium Lithium, the multinational lithium company, announced its financial results for the first quarter of 2024, highlighting solid profitability driven by average prices for lithium hydroxide and carbonate above US$20,000 per metric ton. The company anticipates cost synergies and savings between US$60 and 80 million for the year and continues to advance towards a capacity of 170,000 LCE by 2026.
AbraSilver Resource Corp, a Toronto-based mining company, announced the start of a 20,000-meter drilling campaign at its Diablillos project in the province of Salta. The diamond drilling program will focus on expanding and delineating high-grade silver and gold mineralization within the company's flagship project. AbraSilver's goal is to identify new mineralized zones and explore under-explored areas, thereby driving the project's growth.
From May 21st to 23rd, San Juan will be the epicenter of mining in Argentina with the "10th San Juan International Mining Expo" organized by Panorama Minero at the Cepas Sanjuaninas venue. This biennial event, founded in 2006, will bring together key industry players at a crucial moment for the country's politics and economy, just days before the “May Pact" meeting announced by President Javier Milei.
The Argentine provinces of Santa Cruz, San Juan, and Jujuy topped mining exports during the first quarter of 2024, despite a decline in overall sector sales compared to the same period last year. In March, mining exports reached US$320 million, down 5.9% from March 2023. In the first three months of 2024, the total exports amounted to US$861 million, marking a 15.8% decrease compared to the first quarter of 2023.
Genneia, the country's leading renewable energy company, is partnering with Aldebaran Resources Inc., a mineral exploration company, to offset its carbon emissions generated in Argentina through the issuance of 848 Verified Carbon Units (VCUs).
In a display that combined solidarity and high-altitude logistics, 16 miners were successfully rescued from extreme conditions in the Andes Mountains. This rescue was possible thanks to the coordination between the Ministry of Mining of San Juan, the Veladero mine, and the Lama project, who swiftly mobilized their emergency response teams to tackle the crisis.
Following the announcement made by the Australian giant BHP regarding an offer to acquire a portion of Anglo American's global business, the British company's Board of Directors provided an update stating that “the unsolicited, non-binding, and highly conditional offer was unanimously rejected by the company.”