An Official Approach To Investment In Argentine Mining Sector - The Gold Case -

SUNNARY AND CONCLUSIONS Argentina presents to the foreign and local investors a mineral wealth that is largely unexplored, untested, underdeveloped and therefore incompletely evaluated. In view of the above, the new administration of President Raul Alfonsin through its Department of nines has designed and implemented a strategy ( Plan de Expansión Ninera P.E.M.), whose main objective aims at improving the "investment climate" in the sector. It is the Government's basic intention to apply the Mining Promotion Law with responsibility but with generosity to encourage the attraction of investment (local and foreign) to the sector. The establishment of a Data Bank system to evaluate possible new potential ore mining developments will help to connect the owners of potential projects with investors outside the sector. Argentina has an interesting gold ore potential. Estimated reserves of individual projects already known amount to almost 300 tonnes of gold for potential production. The government strongly believes and present information indicates that more systematic exploration has to be undertaken in the Jurassic areas that almost cover the whole of Patagonia. Two recent gold discoveries (Angela in the Chubut province, and Cerro Vanguardia in Santa Cruz province) indicate the potential of this area.