Title : So tell me again how the Macri government will be great for mining in Argentina
link : So tell me again how the Macri government will be great for mining in Argentina
So tell me again how the Macri government will be great for mining in Argentina
An interesting detail in the Yamana (YRI.to) (AUY) guidance NR. A part of the guidance on its new Cerro Moro in South Argentina, your humble scribe adds the bold type:
Furthermore, for Cerro Moro, unit costs for 2018 and 2019 have been adjusted to reflect the effects of the export tax in Argentina and the historical Bocamina tax. The inclusion of the export tax, which is in effect through 2020, and the Bocamina tax add approximately $130 per GEO and $40 per GEO, respectively, to the guided costs for 2019.
Sooo, the business-friendly" government lauded as the best thing since sliced bread that did away with the export tax on mining products to great fanfare...then re-introduced them when the self-made financial crisis hit last year and now, as a result, miners pay even more than they did before! Seriously, $170/oz just to get your doré out of the mine and to the ship waiting at the dock must hurt.
On the other hand, Sandstorm (SAND) will be happy with the AUY guidance numbers on this mine, the 6m oz forecast in 2019 is right on the button of its maximum stream delivery. But t that's another story.
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