Argentine mining boom attracts attention


Precious-metals mining projects in Argentina have brought a sizeable boost in foreign investment here—and growing concern that the open-pit, cyanide-leach method they use will do serious damage to the country’s environment. Mining production reached US$1.342 billion last year compared to US$430 million a decade earlier, and the government reports the figure will surpass US$2 billion by 2006. According to government estimates, mineral extraction in 2006 will account for 29,400 jobs directly and 121,600 jobs indirectly, while investment will reach US$1.3 billion—more than six times last year’s level. Such numbers are enticing for Argentina, which is trying to recover from the devastating economic crisis it suffered in 2001. Mining advocates here are eager to promote more investment... [Log in to read more]

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