Categories: General Market Commentary
Topics: General Market Commentary

Move Over Chile, Macri's Argentina Wants the Mining Limelight

Nov. 17, 2017

Over decades, Chile forged a mining industry that’s the envy of the Americas. Now, there’s a new kid in town: neighboring Argentina.

Under President Mauricio Macri, opportunities for miners are improving. Macri took office two years ago vowing to undo protectionist policies and lure investors.

Those moves are reflected by tweaks he’s said to be planning to a law protecting Argentina’s Andean glaciers. The changes could help unfurl $18 billion of stalled projects, newspaper La Nacion reported on Wednesday. Chile, meanwhile, has been debating legislation to fortify its environmental laws.

Then there’s Pascua-Lama, Barrick Gold Corp.’s gold and silver project straddling the countries’ northern border. While it remains shuttered in Chile after legal and environmental setbacks, in Macri’s Argentina it’s moving forward as the company prepares to start exploratory drilling this month with new partner Shandong Gold Mining Co.

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