Martín Guzmán goes to a mining summit looking for investment

This weekend, Economy Minister Martín Guzmán will travel to Toronto, Canada, to attend the world’s largest mining company summit. The officer will search with the rest of the entourage, attracting investments for a sector considered key for the generation of foreign currency that the country needs.

The summit is called the Prospectors and Developers Association of Canada (PDAC). Along with the Minister of Economy (the only one of that rank who has traveled since doing so in the place of former Minister of Production Matias Kulfas) will also travel the Secretary of Mines Fernanda Ávila and six provincial governors, among others. .

This year, the event, which contributes $ 106 billion to Canada’s GDP annually, will take place in a mixed format: the face-to-face event will be held at the Metro Toronto Convention Center from June 13-15.

Monday will start with the so-called Argentina Forum Day, an event aimed at investors attended by the governors of the mining provinces. ambassadors and representatives of the Argentine Chamber of Mining Entrepreneurs (CAEM), led by its president Franco Mignacco. There, Guzman will be exhibitor.

The governors who have pledged their presence are the leaders of San Juan, Sergio Uñac; from Santa Cruz, Alicia Kirchner; from Catamarca, Raúl Jalil; from Mendoza, Rodolfo Suarez; by Salta, Gustavo Sáenz and by Jujuy, Gerardo Morales.

For the government, mining is an industry with great potential to generate foreign currency. In this context, he participates armed in the mining summit new measures aimed at encouraging the arrival of new investments. For example, updating the regulations for mining companies to request access to the fiscal stability regime. This instrument, agreed between AFIP and the Ministry of Mining, is contemplated in the Mining Investment Law and establishes that, once a series of requirements have been met, the investing company is not affected by its total tax burden for 30 years. The change has to do with a system to speed up the processing of business applications.

Guzman referred to the importance of the mining sector in the state’s coffers this week during his presentation to the Association of Entrepreneurs of Argentina (AEA). On that occasion, the minister stressed that “there are opportunities in the mining sector, progress will continue with current policy. We have a work program focused on promoting opportunities for Argentina and the government and articulating the rules of the game for the industry, “she said.

Therefore, by participating in this mining industry event, It is a strategic move for the government that will try to “sell” Argentina’s potential for resource exploitation, especially lithium. Lithium production is concentrated in four countries; Australia with 55% of the world supply of the ore. Chile follows with 26%, China with 14% and Argentina with a 6.4% share.

However, given the growing demand for this mineral, which is highly valued by the automotive and electronics industries, the Ministry of Mines estimates that the country could multiply its production by six over the next five years.