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McEwen Mining Inc MUX

Alternate Symbol(s):  T.MUX

McEwen Mining Inc. is a gold and silver producer. It owns over 48% of McEwen Copper Inc., which owns the Los Azules copper project in Argentina. Its segments include Canada, United States, Mexico, Minera Santa Cruz S.A. (MSC) and McEwen Copper. The United States segment includes the Gold Bar mine and its exploration properties in the State of Nevada. Canada segment includes the Fox Complex gold properties, including its Froome underground mine; the Stock Project; the Stock mill; the Grey Fox exploration project; a number of exploration properties located near the city of Timmins, Ontario, Canada, and the Black Fox mine. Mexico segment includes the El Gallo mine and the related advanced-stage Fenix Project, located in Sinaloa state. MSC Segment includes 49% interest in the San Jose mine, located in Santa Cruz, Argentina. Its Eureka project includes the Lookout Mountain Property and the historical Lookout Mountain and Windfall Mines in a total property position of over 28 square miles.


NYSE:MUX - Post by User

Bullboard Posts
Post by BCBeaveron Aug 24, 2012 4:20pm
348 Views
Post# 20258451

Glacier Law: early July Appeal Ruling

Glacier Law: early July Appeal Ruling

Appeal ruling announced in early July...


Argentina's Supreme Court Upholds Glacier Protection Law



Published Date: 11-07-2012 [7th of July]
Source: Statement, Reuters, mining.com, Globe & Mail
Source Date: 05-07-2012 [5th of July]


Article starts off with


"Argentina's Supreme Court rejected a 2010 ruling by a federal judge in San Juan province..."



https://www.minesandcommunities.org/article.php?a=11791



Extract:


"The earlier verdict granted to Barrick (a similar injunction request was granted to Xstrata Copper) which had effectively suspended the National Glacier Act for companies such as Barrick Gold (Pascua Lama and Veladero) and Xstrata Copper (El Pachón), was a great windfall for several hundred exploratory mining projects in the high Andes mountains not only in San Juan province but also in high altitude provinces such as La Rioja, Catamarca, Jujuy, Salta, and Mendoza, where glaciers and permafrost abound.


The doubt remains hence, what the strict ruling will mean for companies whose concessions are surrounded by, or coincide with glaciers and more generally with frozen grounds (permafrost) which are also protected by the law."


Conclusion:

"The verdict also emphasises the responsibility of mining companies to produce within 180 days of the passage of the National Glacier Act, a detailed glacier impact study to determine if the glacier law applies to the project in question, including projects already under operations, making the National Glacier Act retroactive for project's such as Barrick's Veladero gold mine."

We will soon know where we stand. In essence, even if the Los Azules project in San Juan province has no visible glaciers, a detailed glacier impact study must be conducted within 180 days of the ruling by all affected miners to determine: is their property "surrounded by, or [does it-- ed. note] coincide with glaciers [?;-- ed. note] and, more generally, [does it coincide with-- ed. note] frozen grounds (permafrost) which are also protected by the law."??

In the interim since this ruling Coro Mining put out an altered mine plan in response, and Calypso Uranium put some projects on care and maintenance. Each case is different and it remains to be seen what the outcome will be on Los Azules, especially with the upcoming ownership dispute with TNR Gold set for trial scheduled for early November!

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