San Juan is the best mining investment destination in all of Latin America and is among the best in the world. The province ranks first regionally in the index prepared by the prestigious Canadian Fraser Institute. It is a report that presents the results of the annual survey of mining and exploration companies for the year 2021. It is an assessment that shows different aspects of the sector. It analyzes everything from mineral wealth to public policy factors, such as taxation and state regulation.
in order, San Juan ranks 22nd out of 77 jurisdictions that complete the list. It is the first time it has occupied this place and it is ahead of mining giants such as Chile, which has significantly lowered its position, Peru and Mexico. The province is on par with many states in the United States such as Colorado. This is due to the good interest it has generated at the political and Mineral potential in the investment attractiveness index.
The numbers of this prestigious institute that put Western Australia in first place, It was announced just days after the Environmental Impact Statement (DIA) was submitted for the Josemaría project, located in Iglesia and to be managed by Lundin Group, in San Juan. It is acceptable for the Multidisciplinary Committee on Environmental Assessment for the company to start looking for sectoral permits to start operating as soon as possible.
Governor of San Juan Sergio Unaksaid this Tuesday, when looking at the results of the Fraser Institute survey, “Advertising has a series of conditions for companies, but they have to do, in fact, with responsible and transparent mining that serves San Juan.” And the president celebrated that the province “is not only the first in the national system, but also the first in Latin America.”
Then he asserted that “it’s an achievement for everyone, and that confirms that the path we’re on, from reaching an agreement in San Juan, negotiating with the national government, being consistent with what we say and do, The result is that the eyes of foreign investors are saying that San Juan is a potential business environment.”
With regard to the Josemaría project specifically, San Juan’s Minister of Mining, Carlos Astudillo, said when making the announcement that “DIA accomplished in record time.” “It was a request from the governor and from San Juan residents to reduce time and we did everything the law required of us. There will be a footprint for every San Juan, especially in the use of technologies. For example, a retaining wall has been changed with different characteristics and many other features of technical care environment, income distribution, and citizen participation.”
Josemaría will be the new mining giant in San Juan, which will open the “Age of Copper.” Initially, he promises to create about 4,000 construction jobs at the mine. An investment of $4,200 million will be required. The company will make three significant payments: the first, 3100 million; Second 900 million and 200 million closer to the completion date. The mine will have a useful life of 19 years and is expected to generate an inflow of foreign exchange from net exports of $1,700 million annually.
however, San Juan’s mining policy also proved successful with Villadero. The partnership between Barrick and Shendong Gold announced at the end of 2021 an investment of $120 million to build Phase 7 of the leaching area. This means creating 640 jobs in San Juan. This is all part of improving mine operation to extend the life of the mine into 2030.
In addition, the company has identified a future priority: a large-scale exploration plan in the vicinity of Llama. They will seek to see if it is possible to create a new mining enterprise and they will have the information in 2024.
As reported, the plan will be implemented over three exploration seasons, one of between 25,000 and 30,000 meters of drilling. So there will be an investment of $75 million and you will need 75 new employees.