Mining trusts: a detail of the income in 2019 and how much was spent on works | GEMERA

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• Gemera
• 21/07/2020

The Ministry of Mining of the province recently submitted a report to the Chamber of Deputies of San Juan detailing the projects carried out in 2019 and the expenditures for works with money from the Trusts to which the mining companies contribute.

This report complies with the provisions of Article 11 of Law No. 1099-M, by which a report must be published annually within the first half of the year.

CASPOSO MINE

What the Committee of Administration of the «Casposo Project Infrastructure Trust Fund» detailed in terms of works is:

-Drilling Water Network National Route No. 149. Connection from current drilling outlet to connection with Contracted Network (210 mts) for an amount of $855,992.39. In the town of Hilario, in the department of Calingasta.

-Extension of work «Drinking Water Distribution Network Barrio RIM 22» in Villa Calingasta for an amount of $550,550. During 2019 the Casposo Project Infrastructure Trust Fund paid a total of $550,550 corresponding to the Sole Certificate No. 1 of the Expansion of that Work.

-Cultural Events Hall and Popular Library for an amount of Ch$8,486,254.39 In the town of Barreal, in the department of Calingasta. During fiscal year 2019, the Casposo Project Infrastructure Trust Fund paid a total of $2,538,000 corresponding to the 30% Financial Advance.

For works, $3,088,550 were allocated and the company Austral Gold deposited a total of $5,267,904.42 corresponding to 2019 in three quarterly contributions only, as a consequence of the suspension of production of the Casposo Project.

GUALCAMAYO MINE

The members of the «Gualcamayo Project Infrastructure Trust Fund» decided to finance the following works:

-Electrical work in the area of OSSE’s underground water extraction wells, in Pampa del Chañar, Jáchal department. The budget amounts to $50,955,290.42 plus VAT of $10,700,610.99.

-Project to improve the irrigation network in the Jáchal Valley, work estimated at $145,589,666.67 including VAT.

-Paving of Provincial Route No. 447 (San Martín Street) – Section: Provincial Route No. 456 (Eugenio Flores Street) in La Frontera locality, Jáchal Department. The cost of the work is $24,104,533.28 including VAT.

MASA Company deposited to the trust corresponding to 2019 a total of $85,809,770.74 in four quarterly contributions.

LAMA PASCUA PROJECT

The laws, decrees and resolutions regarding the creation of the «Fondo Fiduciario de Infraestructura Proyecto Lama Pascua» and «Fondo Fiduciario Área de Reserva de Biosfera San Guillermo» trusts between Barrick Exploraciones Argentina S.A. are still in force. (BEASA) and the Provincial Government.

The contribution by the Lama Pascua Trust in 2019 was $279,517,079.79 and by the San Guillermo Biosphere Reserve $ 33,542,013.96.

Infrastructure works carried out in 2019:

Trust «Lama-Pascua Project Infrastructure Trust Fund»:

-Hydraulic Works, in the department of Iglesia, for an amount of $28,281,024.64 including VAT. During the 2019 fiscal year the Trust paid a total of $ 435,220.94 inherent to the payment of Work Certificate No. 1 and Redetermination Certificate No. 2.

-Work «Cloacal Jáchal System – Second Stage – Central Collector and Sewage Treatment Plant» in Villa San José, Jáchal Department in the amount of $ 50,405,489.95 including VAT. During the 2019 fiscal year, the Trust paid a total of $923,223.49, inherent to the payment of Work Certificate No. 32.

A total of $1,358,444.43 was allocated to works in 2019 by the Lama Pascua Trust. Plus $923,223.49 corresponding to 40% of the amount of a work shared with the Gualcamayo Trust.

San Guillermo Biosphere Reserve Area Trust» Trust:

-Purchase of a 4×4 vehicle for the amount of $1,744,520 including VAT and during fiscal year 2019 the total amount was paid.

-Hiring of Professional Services in Biology. During fiscal year 2019, a total of $239,635 was paid.

-Permanent Water Quality Monitoring Service in the amount of $1,902,592.73 including VAT. During fiscal year 2019, a total of $751,450.83 was paid.

-Purchase of Satellite Modems, GPRS Modem, water quality sensors, cabinet, accessories and installation service for the Cuesta del Viento Dam – Jáchal River Remote Station project for an amount of $1,842,043.50 including VAT. During fiscal year 2019, the total amount was

The amount allocated to works and services in 2019 for the San Guillermo Biosphere Reserve Area Trust was $4,577,649.33.

The works financed jointly by the «Gualcamayo Project Infrastructure Trust Fund» and the «Lama-Pascua Project Infrastructure Trust Fund» during 2019 are

-Sewerage System Work 2nd Stage – Central Collector and Sewerage Liquid Treatment Plant, in the Jáchal Department for an amount of $50,405,489.95 including VAT. Financing: 60% by the Gualcamayo Trust and the remaining 40% by the Pascua Lama Trust. During the 2019 fiscal year the Lama-Pascua Project Infrastructure Trust Fund paid a total of $923,223.49 inherent to the payment of work certificates No. 32. No payments were made through the Gualcamayo Project Infrastructure Trust Fund.

RAJO ARGENTA

During fiscal year 2019, MAGSA did not make any deposits to the trust.

The works:

-Enlargement of the Drinking Water Distribution Network on Paoli and Rosario streets, in the town of Rodeo, for an amount of $ 4,828,732.65 including VAT. During fiscal year 2019, the Trust paid a total of $ 3,915,027.65, inherent to the payment of work certificates No. 1, 2, 3 and 4.

-Enlargement of the Drinking Water Distribution Network, Sto. Domingo Street, in the town of Rodeo, for an amount of $ 27,276,283.60 including VAT. During the 2019 fiscal year, the Trust paid a total of $ 4,953,208.75 inherent to the payment of work certificates No. 1 and 3.

Infrastructure works were financed in 2019 for an amount of $8,868,236.40.

Tags: CASPOSO MINE, GUALCAMAYO MINE, LAMA PASCUA PROJECT