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We're ticking boxes in terms of keeping the officals of Catamarca happy by the looks of it.Miners will contribute USD 57 million for infrastructure works in Catamarca: what to build and when
These are national and provincial routes, key to targeting regional development and lithium production and exports. They estimate that the provinces of the lithed triangle could export about USD 10.7 billion by 2030, although the Chamber of the sector said that the mining dollar fell short.
14 Oct, 2023 02:20 p.m. ESTShareThe mining export potential for NOA is estimated to be $10 billion a year. Reuters
The mining sector continues to grow in the north of the country and reserve projections anticipate that the item will continue to rise in the coming years. Good business expectations are reflected in several areas, such as increasing farms and labour integration, but it is clearer in investment levels.
Beyond the millions invested in the activity itself, there are commitments from companies to make disbursements to improve the infrastructure of the operating area. Specifically, the governor of Catamarca, Raúl Jalil, announced that the work of Route 43 in Antofagasta will be financed by the companies of the mining sector. The tender will soon be opened for the execution of the basic work and paving of the section that connects the department with the limit with Salta, the president said in his account on the X network (ex Twitter).The first stage of the work will be funded by Livent, Allkem and Galan Lithium, and the second by the mining trust. In addition, in a meeting with Zijin Mining (Chinese mining company), we agreed to move forward with the High Voltage line for Fiambalá, with a contribution of 24 million dollars. In total, companies will contribute $57 million for the road infrastructure and services plan in the influence locations, Jalil explained.
Infrastructure
Investments in the mining sector aim to promote the exploitation and export of lithium through improvements in the infrastructure of the area. This is precisely a limitation to the development of mining, which requires routes, transport, energy and communications in isolated and non-service locations.
At the beginning of August, in Salta, at the event "Litio" in South America, attended by 1,800 executives, analysts, investors and interested in the potential Argentine litifier, one of the main attractions was the presentation of Joe Lowry, known worldwide as "Mister Lithium" and a source of consultation of companies such as Tesla. In a masterful exhibition, Lowry noted that there is too much anxiety in Argentina about producing batteries. "My advice," he said, "is to think about it when they come to produce 500,000 tons of lithium carbonate per year (more than 15 times the current level of production). And he said that in conversations he had with Fernanda Ávila, the Mining Secretary, and Flavia Royón, of Energy, he told both: "Before you worry about making batteries, build more routes, more electrical and communication networks, more infrastructure." This is what Livent, Allkem, Galan and Zijin, all involved in the production of lithium, have now decided to promote with their contributions.
Export potential
The research economist at Conicet, Martín Trombetta, said Jujuy, Salta and Catamarca have the potential to export USD 10.704 million annually for their mining products.
(Source)
The NOA's mining export potential for 2030 is $10 billion, more than three times what we export from beef and almost half of soybeans. The other Dead Cow. Diversification and federalization of the export basket, he said.
Trombetta explained that the data were calculated on the basis of the development of lithium and copper mining in the Argentine Northwest. According to its estimate, by 2030 there will be 11 lithium and 2 copper projects between the provinces.
In relation to the valuation, the economist took a stable lithium value at USD 30,000 per tonne and for the copper price of USD 8,906.66 per tonne. However, it is important to clarify that other economists considered it too optimistic - a value of USD 30,000 per tonne for lithium. A projection of USD 15,000 to USD 20,000 is more feasible for 2026 or 2027.
Meanwhile, a report by CRU, an international consultant with South American head office in Chile and specializing in mining, states that Argentina, thanks to its three active operations and numerous developing projects, has a potential for growth of lithium production of 50% per year, against 16% in Chile and a less precise but also lower expansion, in the case of China, which is in turn the main destination of exports of lithium coal from Argentina.
Dissatisfied with the dollar
With more or less optimistic projections, the outlook for the mining export sector is encouraging. However, there are still several aspects of the economic scenario that could improve.
Companies call for more minerals to be included in the implementation of the "mining dollar." Reuters
Without going any further, from the Argentine Chamber of Mining Entrepreneurs (CAEM) they disagreed with the norm that was made known yesterday about the so-called mining dollar. The problem, they said, is that the regulations leave out relevant minerals, such as raw silver and lithium.
Is it essential to stress that the exchange arrears affect all companies in our industry. Therefore, from the CAEM we advocate access to an exchange rate that is consistent with that granted to other exporting activities. Mining represents a fundamental component of the national economy, being the country's sixth largest export complex and a prominent source of foreign exchange, thanks to its constant surplus in the trade balance, they claimed.
It would be desirable for the measure to contemplate industrial rocks and minerals, covering products such as lime, borates, bentonite, plaster, limestone, diatomite, dolomite, ornamental rocks, quartz, among others, as well as metal minerals such as zinc, lead, iron and copper. All these products represented a total of USD 132 million in exports generated by small and medium-sized enterprises in the sector in 2022, they added from the entity.
They also indicated that in order to continue investing and maintaining the pace of production that characterizes the sector, it is essential that the mining dollar be accessible to all mining exports and is not limited to only a part of them. In addition, they commented that it is essential that the Siras and Sirase that are pending be approved to continue the productive schemes
https://www.infobae.com/economia/2023/10/14/las-mineras-aportaran-usd-57-millones-para-obras-de-infraestructura-en-catamarca-que-construiran-y-cuando/
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