On 08/07/23, Resolution 96/2023 (the “Resolution“) was published in the Official Gazette, by which the FMS sets -within its authority- the “Federal Program for the Systematic Disclosure of Mining Activities (ProNDSAM)”..

ProNDSAM has five objectives:

1. Prioritize the systematic dissemination processes of mining information.

2. Regulate the operation of the Argentine Mining Information System Open to the Community (“SIACAM“), while ensuring its continuous operation.

3. Promote compliance with international standards for the dissemination of information on the mining sector.

4. Standardize the monthly and weekly publication of reports and the updating of the project portfolio, containing information on exports, employment, international prices, and the development of mining projects.

5. Establish the methodology for the handling and disclosing of information on employment, international trade, and the evolution of mining projects.

According to the Resolution, Section 3, the Transparency and Mining Information Directorate will be in charge of:

(a) Ensuring the continuous updating of SIACAM indicators, reports and open data;

(b) Publishing monthly reports on mining exports, the trade balance of the main mining projects and the provincial origin of mining exports, in accordance with the methodology set out in Annex I to the Resolution;

(c) Publishing monthly reports on mining employment and employment by province in SIACAM, applying the methodology applying the methodology set out in Annex II to the Resolution;

(d) Publishing monthly reports on international prices of the most relevant minerals in SIACAM;

(e) Publishing special reports in SIACAM that deepen the analysis of specific aspects of the mining sector;

f) Publishing the portfolio of mining projects in Argentina produced by the National Directorate for the Promotion and Mining Economy, applying the methodology for determining the state of evolution of mining projects approved by the Federal Mining Council (COFEMIN), applying the methodology of Annex III of the Resolution; and

g) All those functions entrusted to it by the FMS.

Likewise, the Resolution empowers the Transparency and Mining Information Directorate to issue the complementary regulations that are necessary to carry out the corresponding actions for the implementation, execution and control of ProNDSAM.

The Resolution indicates that the expenditure demanded by the measure will be met according to the budgetary availability, for the Fiscal Year 2023, under Program 32 – “Formulation and Execution of the Geological-Mining Policy”.

Background information

The Resolution is the result of several measures taken by the FMS in terms of transparency. Particularly, the Resolution contemplates:

(a) Decree 50/2019: established the goals of the FMS, among which is observed to assist the Ministry of Economy in “… the design and implementation of mining policies, in terms of interaction with investors and companies in the sector, and in all actions aimed at promoting the development of mining in the country“.

(b) Resolution 47/2020: established the strategic objectives for the “Argentine Mining Development Strategic Plan” for the next 30 years. Among those, it is noted to favor the access to information related to the activity and the National Mining Policy, guaranteeing the transparent management of the sector.

(c) EITI Initiative: Argentina has been part of the EITI since 2019. According to the 2022 Progress Report, issued in April 2023, Argentina received a score of 73/100. Within the EITI Argentina portal, the objective of facilitating access to information and transparency of the extractive sector is observed.

(d) Resolution 89/2022: created SIACAM, which must periodically report on the economic, geological, geographic, social, health and environmental aspects of the mining activity.

(e) Administrative Decision No. 449/2023: delegated to Transparency and Mining Information Directorate the responsibility of assisting the Undersecretariat of Mining Development in the creation, consolidation and administration of the Single National Mining Information System, the Mining Transparency System and the Mining Communication System, referring to environmental, economic, social, legal aspects, geological, cadastral mining projects and their territorial environments.

Prior to the Resolution, the FMS provided reports and studies on mining, without establishing the methodology used for such publications. Previously, the FMS, through its website, published:

(i) Weekly reports: they monitor the latest developments in Argentine mining projects and the evolution of international prices of the main commodities linked to the sector.

(ii) Monthly reports: reports on international prices, mining exports, and other topics.

(iii) Archive of studies: repository of documents made between 2016 – 2018.

(iv) Mining Development Studies Series: reports focused on mining sector research from various angles. The objective of these is to contribute information and perspectives to the debates around mining in Argentina and the world.

(v) Series of studies on mining markets: documents that provide specific analyses linked to the different minerals of interest and the geological potential of Argentina.

(vi) Bilateral mineral trade reports: reports focused on the investigation of mineral trade between Argentina and different countries.

(vii) Catalogues of mining projects: portfolios aimed at investors. They collect information on the projects with the greatest export potential.

(viii) Series of statistical studies: documents and reports on different variables.

(ix) Gender indicators: Reports and studies on indicators on gender equity and existing gaps in the mining sector.

 

For more information or inquiries on these topics, please contact Marcos Moreno Hueyo and/or Dolores Reyes.