Did anyone ever receive a definitive answer about whether AGY have an export license/permit for their 2 ktpa production? This question gains renewed significance given GLN's recent struggles obtaining a permit from the Catamarca Government, which is significantly increasing their royalties (from 3% to 7%) and seeking potential advance payments.
Despite AGY's completion of the "final regulatory task" almost four weeks ago, the EIA approval is still pending. When combined with the lack of any apparent exports of the 2 ktpa production by AGY, it suggests there may be undisclosed issues. Despite earlier expectations of streamlined bureaucratic processes under Milei's administration, as seen in the GLN situation and AGY's own delays, provincial authorities maintain substantial control. It's likely that the Salta Government, similar to Catamarca's actions with GLN, is pressuring AGY, possibly using the EIA and export permit processes as leverage.
I don't think what's happening with GLN is a good sign for AGY. While many will point to the production differences (chloride vs carbonate), the reality is it doesn't matter. This is about governments wanting their pound of flesh, and after all, this is Argentina. I can't see why Salta would be any different to Catamarca, everyone there has their hand out.
AGY Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
