Patagonia Gold’s projects fall under new area of special interest
30 November 2009
Patagonia Gold today noted that new legislation had been passed in the Santa Cruz province of Argentina that creates an "Area of Special Interest for Mining", east of route 40, in which mining activities are encouraged.
Patagonia’s Lomada de Leiva, Cap Oeste and La Manchuria projects are located within the defined "Area of Special Interest for Mining", as well as the other prospects of the company and the mining properties optioned by Fomicruz S.E.
The new "Area of Special Interest for Mining" permits mining east of route 40, from 4km of the shores of lakes and the axis of major rivers, and from 10km of the city limits of towns. In addition, the new legislation also permits the processing of ores from 20km of these major water features.
The law also creates an ad-hoc committee to evaluate the Environmental Impact Studies of the projects located outside the "Area of Special Interest for Mining".
Carlos Miguens, Patagonia’s deputy chairman, said: “We consider this new legislation positive in confirming the state pro-mining interest and defining the areas within the province where mining activities will be encouraged.”
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