- Write by:
-
Friday, November 6, 2020 - 12:49:26 PM
-
380 Visit
-
Print
Mining News Pro - Argentina mining exports are expected to dip by 25% this year after activity ground to a halt under one of the strictest coronavirus lockdowns in the world, officials said on Thursday.
Exports from the mining sector, made up of mostly lithium, gold and silver, will total about $2.4-billion in 2020, Mining Secretary Alberto Hensel said. Private sector investment in mineral exploration dwindled to $160-million in 2020, down from $241-million the previous year.
Argentina`s government mandated a strict lockdown on March 20, shutting down most activity, grounding travel and closing its borders. The pandemic hit the mining sector particularly hard, officials said, which relies on workers who often need to travel to reach job sites.
Argentina needs investment dollars to develop its mining sector as the government grapples with a wide gap between its official peso spot rate and the black market rate and shrinking central bank reserves.
"This is a sector that we see as very relevant because from a macroeconomic point of view, Argentina needs to strengthen projects with an export outlet," Production Minister Matías Kulfas told journalists. "Mining is part of the solution."
Argentina`s official statistics agency posted earlier on Thursday a 3.4% increase in industrial production in the month of September, the first monthly rise since the pandemic.
Short Link:
https://www.miningnews.ir/En/News/608011
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
No comments have been posted yet ...