Neighbours Sign Andes Agreement

by Miningnews

6th January 2006

ARGENTINA and its South American neighbour, Chile, are set to sign new agreements to facilitate mining operations in two border regions of the Andes.

According to an Argentine Foreign Ministry statement, the accords, which fall under the framework of the Treaty of Complementary Mining Integration signed between the two countries in 1997, are for mining and exploration in the Amos-Andres and Vicuna areas.

On the Chilean side of the border, the Amos-Andes area comprises exploration concessions held by Rio Tinto, Teck Cominco and Argentine miner Cerro Vanguardia. While on the Argentine side, the concession belongs to Cerro Vanguardia. The exploration concession for the Vicuna project is in the hands of Canadian miner Tenke Mining.

According to an Argentine Foreign Ministry, the accords will create bilateral protocols for special taxation, customs, border facilities and the flow of goods and people in the areas.