'Gold Mining in Uruguay' Business

Gold Mining in Uruguay

• Gold Mining in Uruguay

Yes indeed... thar's gold in them thar hills :-)

I live near the Nueva Helvecia gold field and from time to time I hear rumours about a find. However, all mineral rights in the ROU are vested in the government so most landowners view a discovery of minerals (gold, coal or whatever) on their land as a major disaster. Recently a small coal field was "discovered" near Cerro Chato but it seems that the landowner's ancestors discovered it in the late 1800s when digging a new well and managed to keep the find secret until recently.

Thanks Alberto. I hadn't grasped the differences in legal treatment between energy and metal ores.

As I understand it, Uruguay was formerly joined to Namibia before the continents split so you'd expect to find gold and possibly diamonds here.

Mind you, from an environmental point of view, I'm glad that we've been spared a gold rush :-)

Good for the environment and less Funcionarios.

Alberto what happened with digging in the River for Oil ?

• Yes, here is the link for the Iron Mining Project (concept)

Ooops! Maybe they will go away if we tax them enough :-)

Patrick.

I live in a City in Central Florida that for the last 20 years gives Corporations a break in taxes as long as they bring good paying jobs to the area and the promise of a growing working force.

The Orlando Magic is building a new Arena with part Tax money and later tax breaks, but they have an obligation to build Community Centers in every town in Central Florida etc.

All that gives me the opportunity to live in a City with the lowest taxes around, because of the nice mix of business and residential.

The Uruguay I knew, Paper was very expensive. It was imported from Canada with the natural high prices that transportation will bring.

I expect that now with the huge Paper mill, the cost of paper in Uruguay will be lower maybe much lower. I expect the Printing Business to be taking advantage of the low prices etc.

If they find Oil in the Ocean, I expect the same and now with this possibility of Iron ore to be found in Uruguay and the creation of a new Port, I expect that Uruguay will benefit with a good Business agreement and the creation of jobs and training for Uruguayan to be participant.

I believe if any company wants to come to Uruguay and do business they should be able to pay good salaries or stay home.

They have recently made the bid for permitions to drill for oil and/or gas under the sea. It will be a joint venture between ANCAP, Petrobras, and YPF. Also a company from the US has been granted permition to drill somwhere inland (think it was in Treinta y Tres). In both cases they are on the exploring process, though they have pretty much info from investigation made during the last 10 years. The big question is: will the wells be worth? Nobody knows until they drill. Uruguay will change a lot if gas or oil is found. Including getting into the Marines radar for the first time in our history. Maybe that's why we've invited big brother Petrobras in ;).

Paper is much cheaper now, and all locally produced. Unfortunately, none of it comes from the Botnia (now UPM) plant. All its celulose goes straight to China and Europe, at least for now.

Ooh, money, money, ooh, money, money

Where does it go?

Down in some bottomless ditch?

Ooh, money, money, ooh money, money

Guess you all know--

Your money goes back to the rich, la ti da..

Your money goes back to the rich.

It seems to be a universal truth... regardless of whatever political system happens to be in place :-)

The biggest resource needing protection right now is the Water. They need to be very careful not to give away one of the largest aquifers in the world cheaply and leave the people without top quality in the future.

Sadly, right on Patrick, "...to the Rich, la ti da"

)o:

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