August 02nd 2023
MARA Copper mine in NW Argentina
National Holidays: Monday August 21st, 2023
Grains and Markets:
South Korea (NOFI) has purchased 68,000 tons of maize from Cofco, option ECSA or SAfrica, November 2023 dates.
Also South Korea (Kocopia) has purchased 65,000 tons of maize for October dates. Origin unreported.
Soya bean imports to Argentina:
The very severe drought has obliged the soya bean crushing industry at Upriver to import, for the moment, 6,100,000 tons of soya beans during the first half of 2023.
Installed crushing capacity at Upriver is about 70,000,000 tons per annum.
Imports were 3,300,000 tons from Paraguay (all by barge) and later 2,800,000 tons from Brazil (by sea).
Paraguay has also been severely affected by the drought, not so Brazil.
Crushed volume during first half 2023 is 14,300,000 tons, the lowest in 15 years.
It still remains to be seen how much more will be imported during the second half of 2023, but expectations are for a much reduced volume.
MARA Copper mine in NW Argentina:
Glencore has announced that they have bought out PanAmerican Silver (Canada) and they are now the single shareholders of the MARA project.
This project was originally known as Agua Rica and is located approximately 60 km south of the now closed Minera Alumbrera project that operated until a few years ago.
The plan is that the mineral from Agua Rica will be transported to the Minera Alumbrera crushing facility and then carried by rail to San Lorenzo where it will be shipped for export.
The estimated volume of copper is 5,400,000 tons and a working expectancy of 27 years.
According to the announced schedule, production will start during the second half of 2024.
STS Bunker at zona comun for next days:
As always, the STS operation is up to the discretion of the Master’s of the vessels involved.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
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