Another deposit of that type would be Navidad in Chubut, Argentina. It was discovered in the early 2000s and turned out to be one of the largest undeveloped silver deposits in the world. PanAmerican Silver bought it but due to the local resistance against mining, the project was put on care & maintenance until last year I think.
Now with the Milei administration in place cutting subsidies to the provinces, Chubut is about to be insolvent, so they likely sooner or later change their mining code to attract investment.
It's a very similar story but one would need to play with via PanAmerican, it is not as direct as NAK.
Navidad is a formidable deposit. If it goes into production, it may put Argentina in the top three silver-producing countries in the world.
With RIGI (Régimen de Incentivos para Grandes Inversiones), a program for large projects with tax, custom, and exchange incentives, many suspended projects may see a green light.
Here is an excellent summary of some of the most attractive copper projects in the country:
RIGI is a very interesting game changer and will certainly advance many projects. But with Navidad, the hurdle of a local nature and basically the issue is decided in Rawson, not Buenos Aires. Mining is regulated on a state level in Argentina, not on a federal one.
And nice article indeed. And there's more to that in Mendoza and perhaps Neuquén, too. So much potential.
It is true that mining is regulated at the state level in Argentina.
Sometimes, the hurdles imposed by environmentalist NGOs reach absurd proportions. A case in point is Gold Fields, Salares Norte mine, which was canceled because of 25 chinchillas. If we consider Salares Norte's gold reserves (3.4 million oz), this is probably the most expensive rodent in the world.
Yeah, there are many such stories, it's completely out of touch. I'm curious how long this nonsense will last. I think we're close to the peak of this, if not there already.
In the long term, the local population pays for the NGO schemes. The mining majors bring infrastructure and employment opportunities to remote regions. So, the locals will pay for the "liberation" of those cute fluffy chinchillas. The locals need more Salar Norte than Gold Field needs the mine.
However, the tide seems to be shifting. Such absurd decisions may remain in the past. Eventually, the material world always prevails over our (or whoever unrealistic) preferences.
I'm actually wondering about the reason for this environmentalist overkill. I mean, nothing wrong with having a look at the green side, all good. But this project-killing, well, I'd almost say zeal makes me wonder.
And I think this was established deliberately to artificially raise prices for extraction within the Western world to promote the further neo-colonial extraction of resources from elsewhere. And that worked great for the West. But now with globalization coming to and end, trade routes getting attacted, and the neo-colonial architecture falling apart (bonjour France!), especially the EU realizes that they need to produce stuff domestically, hence loosen the environmental standards to make things work economically and on a reasonable timeframe.
Great article! I looked at NAK a while back. Probably time for a revisit.
You might also be interested First Nordic (FNM:CA / FNMCF), if you're not turned onto it already. Some recent events (merger, new management) have triggered a first wave up, but there are more on the horizon (potential to acquire 100% of Barselle, further exploration on highly prospective targets).
Hedgeless Horseman on YouTube has published some good commentary / due diligence, if you're looking for a shortcut on first phase of research. He goes through the thesis.
Another deposit of that type would be Navidad in Chubut, Argentina. It was discovered in the early 2000s and turned out to be one of the largest undeveloped silver deposits in the world. PanAmerican Silver bought it but due to the local resistance against mining, the project was put on care & maintenance until last year I think.
Now with the Milei administration in place cutting subsidies to the provinces, Chubut is about to be insolvent, so they likely sooner or later change their mining code to attract investment.
It's a very similar story but one would need to play with via PanAmerican, it is not as direct as NAK.
Excellent comment! Thanks for sharing it.
Navidad is a formidable deposit. If it goes into production, it may put Argentina in the top three silver-producing countries in the world.
With RIGI (Régimen de Incentivos para Grandes Inversiones), a program for large projects with tax, custom, and exchange incentives, many suspended projects may see a green light.
Here is an excellent summary of some of the most attractive copper projects in the country:
https://clubminero.com/contenido/2775/cobre-2030-8-proyectos-us22000-mm-63-mm-de-tn-u-us11000-mm-anuales
RIGI is a very interesting game changer and will certainly advance many projects. But with Navidad, the hurdle of a local nature and basically the issue is decided in Rawson, not Buenos Aires. Mining is regulated on a state level in Argentina, not on a federal one.
And nice article indeed. And there's more to that in Mendoza and perhaps Neuquén, too. So much potential.
It is true that mining is regulated at the state level in Argentina.
Sometimes, the hurdles imposed by environmentalist NGOs reach absurd proportions. A case in point is Gold Fields, Salares Norte mine, which was canceled because of 25 chinchillas. If we consider Salares Norte's gold reserves (3.4 million oz), this is probably the most expensive rodent in the world.
Yeah, there are many such stories, it's completely out of touch. I'm curious how long this nonsense will last. I think we're close to the peak of this, if not there already.
I agree with you. This is peak stupidity.
In the long term, the local population pays for the NGO schemes. The mining majors bring infrastructure and employment opportunities to remote regions. So, the locals will pay for the "liberation" of those cute fluffy chinchillas. The locals need more Salar Norte than Gold Field needs the mine.
However, the tide seems to be shifting. Such absurd decisions may remain in the past. Eventually, the material world always prevails over our (or whoever unrealistic) preferences.
Agree.
I'm actually wondering about the reason for this environmentalist overkill. I mean, nothing wrong with having a look at the green side, all good. But this project-killing, well, I'd almost say zeal makes me wonder.
And I think this was established deliberately to artificially raise prices for extraction within the Western world to promote the further neo-colonial extraction of resources from elsewhere. And that worked great for the West. But now with globalization coming to and end, trade routes getting attacted, and the neo-colonial architecture falling apart (bonjour France!), especially the EU realizes that they need to produce stuff domestically, hence loosen the environmental standards to make things work economically and on a reasonable timeframe.
Just my early thoughts here.
Great article! I looked at NAK a while back. Probably time for a revisit.
You might also be interested First Nordic (FNM:CA / FNMCF), if you're not turned onto it already. Some recent events (merger, new management) have triggered a first wave up, but there are more on the horizon (potential to acquire 100% of Barselle, further exploration on highly prospective targets).
Thanks for your valuable comment.
To confess, I am not familiar with First Nordic. Now, it is going into my watch list.
Hedgeless Horseman on YouTube has published some good commentary / due diligence, if you're looking for a shortcut on first phase of research. He goes through the thesis.