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Strategies & Market Trends : Ride the Tiger with CD

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To: dara who wrote (84275)6/8/2007 11:50:17 AM
From: dara  Read Replies (1) of 313013
 
I don't understand Argentinian politics.
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Mendoza brakes mining law debate - Argentina
Published: Thursday, June 7, 2007 16:35 (GMT -0400)

bnamericas.com

The lower house of congress in Argentina's Mendoza province has decided not to debate the executive veto of a bill to suspend metallic mining and exploration, instead sending it to other committees for consideration.

"Now in Mendoza, things are as they were before the bill's approval [by the lower house]. Exploration and mining can continue," a lower house spokesperson told BNamericas.

The decision to send the bill to the committees of environment, urbanism and housing, economy, and legislation and constitutional matters, means that "now there is neither veto nor law," the spokesperson added.

It is not sure that, following evaluation by the committees, the bill will change, "but what's certain is that there will be more reports from entities and institutions related to taking care of the environment and from the business sector," said the spokesperson.

TIMELINE

While there is no specific deadline for voting on a modified law, the tense controversy surrounding it in the province demands that legislators and the local executive branch reach a conclusion quickly, the spokesperson said.

In December 2006, Mendoza governor Julio Cobos vetoed the bill - originally approved by the lower house on December 13 - that aimed to suspend open-pit metal mining and exploration rights until the province passes a new environmental management plan.

Cobos deemed the proposal "unconstitutional," arguing that it attempts to pass resolutions that are the exclusive responsibility of federal congress, BNamericas previously reported.

However at the end of May the lower house rejected the veto.

By Harvey Beltrán
Business News Americas
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