Mining In Argentina

Argentina is rapidly becoming one of Latin America's major copper and gold producers, posting a remarkable increase in production over the past 3 years. Gold, copper and silver production is set to increase with Argentina historically being a major producer of industrial minerals and construction materials which contributed at least 66% of mining earnings, whilst metalliferous minerals contributed only 24%.

Argentina is a historical producer of minerals and industrial materials, but an economic slowdown in the late 1990’s leading to collapse in 2002 made it difficult for the country to bring these rich deposits to the world markets.

The 2002 collapse saw the economy shrink by 10.9%. Since then, Argentina’s GDP has grown by 45%, an average of 8.6% a year.

In the 1990’s, the country began to realize its potential for mining activity. Exports in this sector rose from US$200 million in 1994 to $1.2 billion in 2004. Mineral exports in 2007 totalled over $2 billion.

Barrick Gold Corp’s 2005 decision to move forward with the US$460 million Veladero project in the San Juan region demonstrates how attractive the Argentinean mining sector is becoming. The government estimates that the upcoming decade will see US$5 – 7 billion spent on two dozen mining projects with estimated reserves worth about US$50 billion.

Despite this renewed activity in Argentina’s mining sector, it is estimated that 75% of the country’s mineral wealth has yet to be exploited.

Soltera Mining Corp. saw this is an opportunity not to be overlooked and is now well positioned to carry out the work necessary to join in the prosperity that the Argentinean economy is showing.

The mineral potential of Argentina can be divided into 5 main regions:

• The Puna Region: which hosts large copper, gold, silver, tin, lead and zinc deposits and ferrous minerals. (El Torno and Eureka are in this region)
• The northeast: which has a potential for diamonds, nickel, amethyst, limestone and ornamental stone.
• The center: which displays a potential for gold, porphyry copper, nickel-platinum and manganese.
• The central Cordillera and Precordillera: which have proven potentials of porphyry copper and gold as well as chromium.
• Patagonia: which has a potential for large epithermal gold and silver deposits, and polymetallic lead-zinc deposits.

Gold Projects in Argentina (as of 2008)