SA News • Jun. 18, 2013
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Jun. 18, 2013, 12:52 PMArgentina's Santa Cruz province slaps a 1% annual tax on mine resources, a move mining companies say they will challenge in court. While the percentage seems small, miners say it will cost them $100M in new taxes next year, as the tax amounts to ~8% of the total resources of a mine with a 15-year life. Among miners with operations in Santa Cruz: AU -3.5%, MUX -2.3%, GG -2.5%, PAAS -1.4%. | Comment!
Dec. 11, 2012, 11:11 AMCoeur d'Alene Mines (CDE +1.2%) purchases the 49% of the Joaquin silver-gold project in Argentina it doesn't already own from Mirasol Resources (MRZLF.PK) for $60M in cash and stock. CDE believes Joaquin has "substantial exploration upside and the potential to become a significant silver producer for the company." | 3 Comments
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