Monday, 22nd January 2007 (2916 views)

Interest in Argentina's gold resources remains strong as the local mining industry continues to grow.

Analysts are predicting that the country's gold production could double in the next few years as more mining companies realise the benefits of investing in gold exploration and mines, reports Reuters. There are just three large-scale gold mines in the region but a number of large projects are planning to begin production in 2010, especially as global gold prices continue to rise.

In 2005, Argentina was the 18th leading gold producer in the world but with increasing level of investment as well as new exploration projects, the country is likely to develop into a major producer in the mid-to-long-term.

It is expected that any planned gold mining operations will ensure they limit any possible environmental damage in order to ensure long-term financing.

Martin Dedeu, president of the Argentine Chamber of Mining Companies (CAEM), explained: "We all need to be environmentalists, but with balance and good sense."

He added: "This is a sector with a very important capacity to develop. We don't have a mining culture and that's something we're trying to encourage."

 

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