Argentina Seeks Foreign Investment For Its Mining Industry

During the past decade, international mining companies have descended on South America. Countries like Chile, Brazil and Peru have seen billions of dollars in exploration and development funding turn their once meager mineral industries into mining giants that have become the envy of the world. Part of this outpouring of foreign investment in those countries has been because each has privatized its state-owned mining companies and has liberalized its foreign investment laws. In addition, they have rewritten their mining codes to encourage minerals development and passed new tax laws that have made natural resource development more attractive. Now these same international mining companies are turning their attention to Argentina. This a country that, like Chile, Brazil and Peru, has a wealth of largely un- tapped mineral resources. And Argentina wants its share of the foreign investment that its neighbors have enjoyed. With that in mind, ministers of Argentina's natural resource agencies came to Denver, CO to meet with mining executives and pitch their country's mining industry. The meeting, attended by about 200 people, was sponsored by the US Trade and Development Agency and organized by the World Trade Center Denver. Others involved were the Colorado Mining Association, the Colorado International Trade Office and the Secretariat of Industry, Commerce and Mining of Argentina. The following is a summary of a report on Argentina's mining industry. It was prepared by Anderson & Schwab Management Consultants and distributed to attendees as part of the meeting's program.