1 TRANSNACIONAL MINING CORPORATIONS OPERATING IN ARGENTINA Buenos Aires MERIDIAN GOLD INC Country of Origin: United States Presence in the country: Chubut Capital s composition: Share Company Level of Invest in the country: 310 million dollars invested in the project of gold extraction Cordón (Esquel) Jobs Created: 381 of which 30% are employers of Esquel (Environmental Impact Study 2002). Since the month of February 2003 the company faces the absolute stop of the Cordon Project 2. MINING ALUMBRERA LIMITED Country of Origin: Managed by Xstrata Plc of Swiss Presence in the Country: Catamarca, Tucumán Capital Composition: Xstrata Plc controls 50% of the shares package, the Canadian companies Goldcorp Inc y Orion Resources Inc own 37,5% and 12,5% respectively Level of Investment: million dollars invested in the mining project en el project mining Bajo de la Alumbrera Jobs Created: 1800 Labour Conditions: 12 hours of labour, seven days a week, seven days off, social security and direct hiring. 20% of the employers are women. According to the company there is a regular program of health control and they apply work procedures to prevent risk in tasks considered of high risk. 3. TENKE MINING CORPORATION Presence in the Country: Mendoza, La Rioja, San Juan, Patagonia, Tierra del Fuego Capital Composition: Federal Action controlled by Lundin Holdings Ltd Level of Investment: 8.4 million dollars invested in different projects of mining exploration. Jobs created: No data found 4. BARRICK GOLD CORPORATION Presence in the Country: San Juan Level of Investment: 547 million dollars invested in the mining Project Veladero and 400 millions invested in Pascua Lama Jobs Created: 838 direct jobs and 192 by local contractors. Labour conditions: At least six fatal accidents reported among the workers of Veladero, labour days of hours, cases of severe injure and abuses despite the company claimed to have health and security programs for its employers. 5. PORTAL RESOURCES LTD Presence in the Country: Chubut, Mendoza
2 Level of Investment: 1.6 million dollars invested in different mining exploration projects 6. CHAPLEAU RESOURCES LTD Presence in the Country: Chubut, Mendoza Level of Investment: 2.5 million dollars invested in different mining exploration projects 7. EXETER RESOURCE CORPORATION Presence in the Country: Mendoza, Catamarca, Río Negro, Chubut, Santa Cruz Level of Investment: 7 million Canadian dollars invested in the mining project Cabeza in Mendoza. 8. MEGAURANIUM LTD Presence in the Country: Chubut, Mendoza Level of Investment: dollars 9. PATAGONIA GOLD S.A. Country of Origin: Managed by Exploration Plc. Of Great Britain Presence in the Country: Río Negro, Chubut, Santa Cruz. 46% of the company belongs to the Argentinean group Miguens Bemberg. The rest of the share package belongs to the British company HPD Exploration Plc Level of Investment: 1.5 million dollars invested in the projects Huemules, Leleque and Nahuel Pan in Chubut 10. AQUILINE RESOURCES INC Presence in the Country: Río Negro Level of Investment: 1.5 million dollars invested in the mining project Calcatreu Jobs Created: IMA EXPLORATIONS INC Presence in the Country: Chubut controlled by the American corporations Prudent Bear Fund Inc and Sprott Management Inc that hold the majority of the share package. Managed by Grosso Group Level of Investment: Unknown. The company is currently in a legal dispute with Aquiline Resources Inc for the property of the project Navidad, which would be solved in a judicial court in British Columbia, Canada. 12. ANGLOGOLD ASHANTI LTD
3 Country of Origin: South Africa Presence in the Country: Santa Cruz. 50% of the share package is controlled by American investing corporations. 7.5% belongs to the provincial entity Fomicruz SE Level of Investment: 15 million dollars invested in the mining project Cerro Vanguardia Jobs Created: 550 direct jobs and 400 through local contractors. about the situation of the employers of Anglogold in Argentina. 97% of the staff is from Santa Cruz and the company has health programs for all its employers as part of a social and responsible corporation policy. It recognizes the agreements of the collective mediation made between the directive body and the employers in April % of the labour staff is provided by local contractors, 55% are direct employers. Despite that they committed to respect the rights established in the OIT Conventions, a recent report of Human Rights Watch gives details as to how Anglogold Ashanti has established links with armed groups of the Democratic Congo Republic to have access to the rich auriferous deposits in Ituri s district people have died near the mine. 13. SILVER STANDARD RESOURCES Presence in the Country: Salta, Jujuy. Royce & Associates controls the higher percentage of the share package. Level of Investment: 150 million dollars invested in the projects Pirquitas (Jujuy) and Diablillos (Salta). Jobs Created: CARDERO RESOURCES CORPORATION Presence in the Country: Jujuy, Catamarca, Chubut. Level of Investment: 23 million dollars invested in different projects of gold extraction. 15. GOLDEN PEAKS RESOURCES LTD Presence in the Country: Chubut, Neuquen, La Rioja that has a joint venture with Mitsubishi Materials Corporation to finance the mining operations in Argentina Level of Investment: 4.75 million dollars invested in the project Vallecito in La Rioja, of which Golden Peaks owns 69.5% and Mitsubishi Materials 30.4%. 2.4 million dollars invested in the project La Dorada in Neuquén 16. NORTHERN ORION RESOURCES INC Presence in the Country: Catamarca. Royce & Associates controls the higher percentage of the share package. Level of Investment: 55 million dollars invested in the exploratory project Agua Rica (initially it was estimated an investment of 1000 million dollars to begin the project). The company operates through direct contractors through the Chamber of Providers to Mining Companies 17. RIO TINTO LIMITED Country of Origin: Australia Presence in the Country: Santa Cruz, Salta.
4 Level of Investment: 5 million dollars invested in the mining project Tincalayu operated by Borax Argentina S.A. in Salta. An investment of 735 million dollars is planned for an operation that will start at the beginning of 2007 Jobs Created: No recent data found. According to the National Mining Secretary, the construction of the mining project foresees the incorporation of 1600 local workers. 18. TNR GOLD CORPORATION Presence in the Country: Mendoza, San Juan, San Luís that operates through joint ventures (financial societies) with other mineral exploration companies of Canada and United Sates. Level of Investment: The project Batidero in San Juan is managed by Tenke Mining Corporation and was acquired by the company for a value of 75 million dollars. 19. VICEROY EXPLORATION LTD Presence in the Country: San Luís controlled by Yamana Gold Inc that owns 100% of the share package. Level of Investment: 55.7 million dollars invested in the project Cualcamayo Jobs Created: IAM GOLD CORPORATION Presence in the Country: Río Negro, Santa Cruz. The companies First Eagle Funds (EE.UU) and Mackenzie Financial Corporation (Canada) control the majority of the share package. Level of Investment: 12.5 million dollars planned to be invested in the exploration project Los Menucos (Río Negro) along with Barrick Gold in the next 8 years. Currently the project is stopped for the new provincial laws prohibit the use of cyanide in mining ADMIRALTY RESOURCES NL Country of Origin: Australia Presence in the Country: Salta Level of Investment: 11 million dollars invested in the project Salar Rincón Jobs Created: PANAMERICAN SILVER CORPORATION Presence in the Country: Santa Cruz Level of Investment: 18 million dollars invested in the project Espejo Manantial that initially was a 50/ 50 joint venture between Panamerican and Silver Standard Resources. Since April 2006 Panamerican owns 100% of the exploratory Project. 23. COEUR D ALENE MINES Country of Origin: United States. Presence in the Country: Santa Cruz
5 Level of Investment: 7 million dollars invested in the project Martha Jobs Created: LA MANCHA RESOURCES Presence in the Country: San Juan Level of Investment: 7 million dollars invested in the mining project Hualihán 25. INTREPID MINES LTD / Australia Presence in the Country: San Juan created through the fusion of the companies Intrepid Minerals (Canada) and NuStar Mining (Australia) Level of Investment: 2 million dollars invested in the project Casposo Jobs Created: No recent data found. The hiring of 490 workers is foreseen along with a final investment of 50 million dollars in the project Casposo 26. TRITON MINING CORPORATION Presence in the Country: Santa Cruz, Jujuy Capital Composition: The Company was created through a joint venture between Pan American Silver Corporation y Silver Standard Resources Ltd. Level of Investment: A total investment of 120 million dollars is foreseen for projects of gold and silver extraction in Santa Cruz. Jobs Created: 800 jobs during the construction and 400 hired permanently. 27. MANSFIELD MINERALS INC Presence in the Country: Salta, Jujuy created through a joint venture with Antares Minerals Inc, which owns 50% of the participation in the project Rio Grande in Salta with an investment of 3 million dollars. Level of Investment: 4 million dollars invested in the projects Rio Grande and Desierto in Salta, and Catua in Jujuy. 28. ANTARES MINERALS INC Presence in the Country: Salta. The American Company Farallon Capital Management controls the majority of the share package. Level of Investment: 3 million dollars invested in the project Río Grande. 29. PALLADON VENTURES LTD Presence in the Country: Santa Cruz, Salta. Level of Investment: 1.5 million dollars invested in the exploration of copper and gold project La Sarita en Salta.
6 30. APEX SILVER MINES LTD Country of Origin: Caiman Islands Presence in the Country: Salta, Santa Cruz. The American companies Kaplan Thomas and Fidelity Investments control the majority of the share package. Level of Investment: No data found. The company owns 65% of the exploration projects Frontera (Salta) and Ferrocarrilera (Santa Cruz) and 80% of the Quevar project (Salta) SUMMARY OF THE DATA FOUND ON THE TRANSNATIONAL COMPANIES OPERATING IN THE COUNTRY Thirty transnational companies, in their majority of Canadian origin, have been identified, that are currently carrying out mineral exploration and extraction projects in the country. The most important provinces in the Argentinean mining industry are San Juan, Catamarca, Tucumán, Santa Cruz, Chubut, Salta and Jujuy, which comprise 80% of the presence of the foreign companies that operate in this sector. Meridian Gold, Tenke Mining Corporation, Barrick Gold, Xstrata Plc, Northern Orion Resources, AngloGold Ashanti and Silver Standard Resources are among the main companies, not only in terms of investment and property but also in world level. A great amount of the operations are performed by local contractors that assume all responsibility for the hired staff in the mining projects. Through the outsourcing of the necessary human resources the foreign companies avoid the obligation of fulfilling the juridical national standards on the labour regime, assume any responsibility on accidents or injures caused in the mines, or face denounces or trials for violation to the international human rights established by the ONU and the International Work Organization (OIT9. For example, Barrick Gold has 138 direct employers, 192 belong to local contractors like Tecnoandina, Eco Minera, Major, Tabolango, Madcur, Fluor Daniel, ACME, and Bondar Clegg. Other transnational companies of less capital and presence in the country work exclusively with outsourced labour hand, which poses difficulties in the investigation of reliable data registers about the number of workers hired by local contractors and labour conditions of the people that work in the mines managed and financed by transnational societies.
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