May 20th 2024
Copper mining prospects in Argentina
National Holidays:
May 25th, 2024
Grains and Markets:
Markets report that China buyers have purchased an additional 5 Panamaxes of soya beans from ECSA on June and July dates.
Saudi Arabia is to issue another tender for maize on June dates.
Malaysians are in the market for Supramax of maize on July dates.
Copper mining prospects in Argentina:
At this time there are no copper mines functioning in Argentina.
Once the Minera Alumbrera mine in the NW Andes area was exhausted in 2022 and ceased exports there remain no functioning mines.
The principal projects under development are:
-MARA
-Josemaria
-Los Azules
-El Pachón
-Altar
MARA is the “continuation” of the Minera Alumbrera project, near to the previous exploitation. The name is an acronym for Minera Alumbrera and Agua Rica. So much so that the Minera Alumbrera initial processing plant, at the mine head, as well as the transport facilities to Tucuman for land shipment to the loading berth in San Lorenzo. Estimated annual production is 155,000 tons. Principal share holders Glencore.
JOSEMARIA is located slightly further south of Minera Alumbrera and has a projected output 125,000 tons per year.
LOS AZULES, also south of Minera Alumbrera, with a projected output of 153,000 tons per year.
EL PACHON, close to the previous two mentioned above, annual putput estimated at 280,000 tons per year.
ALTAR, estimated output is 127,000 tons per year.
All the above are at varying stages of evaluation and prospecting.
MARA is the closest to commence production, but like may investment projects in all areas they are awaiting legislation to be passed by Congress to initiate the final stages of production.
At this time the new Government’s Omnibus law is in the Senate awaiting final sanction.
STS BUNKER AT ZONA COMUN FOR NEXT DAYS:
As always, the STS operation is up to the discretion of the Masters of the vessels involved.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
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