
The Minister of Energy and Mining, Jaime Álvarez, along with the president of FOMICRUZ S.E., Oscar Vera, held a meeting on Tuesday in the Autonomous City of Buenos Aires with executives from the mining company Newmont Cerro Negro, operating near the city of Perito Moreno. The meeting was attended by David Thornton, Executive Director for Latin America and the Caribbean; Javier Velarde, Executive Vice President; and María Eugenia Sampalione, Country Director for Argentina.
Álvarez explained at the end of the meeting that they called the executives again to understand the investment plan after information published in the media. He confirmed that Newmont executives formally decided to reduce investments due to declining profitability, efficiency, and competitiveness. The Minister pointed out that the adversities are due to incidents caused by a lack of investment in safety and deficiencies in project management.
During the meeting, Newmont executives were urged to maintain investment levels and jobs in Santa Cruz. It is important for the Provincial Government that the region remains a key partner in mining activities, always ensuring the safety of workers, environmental protection, and the hiring of local businesses for goods and services.
Following inspections carried out collectively by the Ministries of Energy and Mining, Labor, Employment and Social Security, and Security on January 24, the suspension of activities at the Marianas Complex within the Cerro Negro deposit was partially lifted.