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Argentinian miners hit after shock vote

Locally-listed lithium plays Galaxy Resources and Orocobre, both with key projects in Argentina, are feeling the pressure in today’s trade after the shock result in Argentina’s election primary.

Overnight, the populist opposition leader Alberto Fernandez unexpectedly won an election primary, raising the prospect of a return to power and prompting a plunge in the peso as much as 38 per cent and local market by almost 30pc.

That news is hitting miners in the area - Orocobre, which has the largest exposure to the country, is lower by 5.7pc to $2.65 while Galaxy is lower by 4.25pc to $1.24.