The mining law of large size gives the company now Aratirí the opportunity to submit to the Executive a new partner to take over the mining project.
Last Tuesday was the deadline set by the Mining Act of Uruguay for the government of that country and the Indian capital company Aratirí (Zamin Ferrous) to negotiate the signing of a contract for removal of iron open pit in an area surrounding the town of Valentines , on Thirty-Three region.
It is recalled that the Uruguayan government has ruled out giving way to the foreign firm to start his project megaminería. The main reason lies in the environmental aspect, according to the Observer.
The publication notes that the National Directorate of Environment of the country (Dinama) analyzed the extensive documents submitted by Aratirí to achieve unprecedented empowerment, but the company never finished answering the questions and deliver the clarifications demanded that the environmental authority.
The mining law of great size, which was amended in late 2014 to give more one year negotiating privately with government grants now Aratirí the opportunity to submit to the Executive a new partner to take over the project . That must happen within 90 days. Then have another 120 days to complete the process of empowerment to begin extracting iron.
Aratirí a source confirmed to The Observer that the company filed with a third party to take charge of the enterprise. That “plan b”, as they call the executives of the firm may involve the mining company Aurum Ventures, who days ago said as a new member of Zamin Ferrous. However, the same source told The Observer Aratirí who is not a shareholder in Aurum Mining Aratirí, and therefore could be presented to the government as a third party as required by law'
Visit : Ashish Deora
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