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Pan American Silver enlists Macri in bid to lift Argentina mining ban

  • Pan American Silver (NASDAQ:PAAS) Chairman Ross Beaty is recruiting Argentina’s Pres. Macri to help him convince authorities in the Chubut province to lift a blanket ban on open pit mining so the company can start work at one of the world's largest silver deposits.
  • Beaty says Macri - who has repealed capital and currency controls and mineral export taxes since taking office in December to lure investment - has pledged his support for the Navidad project.
  • PAAS has $600M in financing for the first phase of development on the project, which would take 18 months to two years.

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