AGY

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8.7¢ argosy minerals limited

Excellent summary IMO.It’s a fascinating Rubics Cube. Salta Govt...

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13/03/24

19:16

Post #: 72870297
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Originally posted by Dand16: ↑

IMO what you are hypothesising was actually addressed by the Salta government at the outset of the increase in the lithium price and the influx of foreign investments into Argentina, in more particular the Province of Salta around 2022. The Salta government put in place infrastructure projects and, in some cases, with the assistance of private enterprises. Roads, bridges and the ports were built, not only to cope with lithium mining activities but also other mining projects like gold. Tourism was included in the agenda. They designated 2024 as the year to get production in mining booming all the way to making Salta the lithium capital by 2030.
The Salta airport was completed in 2023. Puna Mining completed its 2ktpa plant in 2023 with the Salta mining secretary inaugurating the facilities in April 2023, including the much derided bakery. (in actual fact, the bakery played an important role in imparting the message to the Mining Secretary that Puna Mining was serious in its resolve to care for the community. DYOR in this regard). So while the Salta government were putting in place the infrastructure to cope with the forecasted lithium boom, the permit approvals were affected. Now, the necessary facilities are in place. At this time, the 2ktpa plant, problems or not, does not have any bearing on the 10ktpa EIA approval. Again, I must say IMO and DYOR.
EIA approvals were also impacted by protests from the ethnic community which were supported by interest groups. Even the Supreme Court put its hand into the argument by requiring the Salta government information on all pending applications.
The offshoot of this was that applicants had to provide more information to their applications. So much throwing to and fro the government and all companies in the province with hydrogeological tests reports.
The lithium mining law that was in place when we got the 2ktpa approval was changed and new rules had to be in place. It was not limited to the environment. Gender equality came into the picture. Then, community neighbourhood had to be cared for. The courts had to be involved too.
Argosy/Puna Mining, Rio Tinto, Posco, Eramet all were wondering what more they needed to do after submitting the revised requirements. In the case of Argosy, Jerko together with the potential strategic partner went to Salta and met with the Minister of Production and the Salta Mining Secretary. IMO the group was happy with what they heard hence JZ was projecting EIA approval was coming soon.
Then came the Argentina Presidential elections. The uncertainty caused by another ballot added to the delay. As a matter of fact, the Mining Secretary had to resign her position on the 9th of December, only to be reinstated on the 12th. Thats the way things go in countries like this.
The good news is that Rio Tinto got their 3ktpa permit on 10th January 2024.
DYOR please. AIMO

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Excellent summary IMO.

It’s a fascinating Rubics Cube. Salta Govt and staff have been using the jobs that Puna’s stage 3 creates as a marketing tool for months. Now using photos of the ponds. Due to chuck us a bone!!

AGY Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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Excellent summary IMO.It’s a fascinating Rubics Cube. Salta Govt...

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