Yamiri Gold and Energy Inc. announces a positive update on the mining law in La Rioja Province, Argentinaadmin
Yamiri Gold and Energy Inc. report positive news regarding the exploration and mining situation in La Rioja, Argentina, where the Company holds several excellent projects through its subsidiary, Yamiri S.A.
On August 7th 2008, the “anti-mining” law, previously approved by the La Rioja Provincial Legislature in March 2007, was over-turned and repealed by a vote of 21 to 1. The original law prohibited “open-pit mining and the use of cyanide and other contaminants”. The La Rioja Legislature has annulled that ban which effectively brought Yamiri’s exploration activities to a halt in the Province, including our joint ventures with Barrick Gold Corporation (Famatina gold-copper property) and Deprominsa (El Potro gold-copper-molybdenum), and our 100%-owned Helvecia uranium property.
Over the past month, statements and initiatives by the La Rioja Provincial Government confirm a return to a healthier environment for the exploration and development of the province’s mineral resources; something that is being enjoyed by the communities in the adjacent provinces of San Juan and Catamarca. According to local press reports, a senior La Rioja provincial government official stated: “This Government … is interested in promoting mining because it believes that without mining investments development … the Province will lag behind for generations to come”.
Yamiri supports the La Rioja Government’s recent decision and we re-confirm our commitment to the sustainable development of mineral resources in the Province and wherever we operate. As a responsible Canadian company, our mission is to invest, explore, and develop natural resources in an environmentally safe and sustainable manner for all concerned, especially for the people and communities where we operate.
Yamiri Gold & Energy Inc. now looks forward to a full resumption of its exploration activities in La Rioja Province.
YAMIRI GOLD AND ENERGY INC. is an exploration and development company focused on developing precious metals and energy-related natural resources in South America. The company’s strategy is to advance and add value to its existing properties in Argentina and to acquire targets of merit in adjacent countries where we have rapidly opened up several exciting opportunities over the past 18 months.