Friday, 12th October 2007 (2292 views)

A new report released by Madison Avenue Research Group has suggested that Argentina is an "emerging mining powerhouse".

The report cites north-west Argentina in particular as having significant prospecting potential, with development in the mineral-rich Andean Cordillera sparking the country's renewed interest in the gold mining industry.

"Argentina is the place to be for untapped potential in a stable, favourable mining investment climate," said James O'Rourke, a staff mining journalist at Madison Avenue Research Group.

Since 1993, mining exports from Argentina have risen 106 per cent, with the report indicating that the Argentine government expects mining exports from the country to make up 15 per cent of the global total within the next five years.

The report estimates that less than 25 per cent of Argentina's territories have been explored and surveyed for possible gold mining potential thus far, despite the fact that the country's western frontier region shares many characteristics with mining "hot-spots" in Chile.

It added that Soltera Mining's El Torno gold project, located in the province of Jujuy, offers particularly strong potential for gold growth in the country as the mining industry continues to develop.

 

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