The national government of Argentina, led by the president, has decided to transform the Yacimiento Carbonífero de Río Turbio into a Corporation. This action has raised concerns among workers and local communities, who fear for their future. Federico Sturzenegger, Minister of Deregulation and State Transformation, has mentioned that around 60 state-owned companies could have a fate similar to that of Banco Nación and YCRT.
Amid this transformation, it has been revealed that there were difficulties in auctioning 30,000 tons of coal through Banco Ciudad due to a lack of bidders. The proposal for privatization has been rejected by the Internal Board of ATE Punta Loyola, which advocates for the company to remain in the hands of the workers and denounces a supposed year of adjustment and depletion in 2024.
Government authorities maintain that the coal basin must be repaired before its sale, which could imply layoffs, considering the criticisms received about the excess personnel at YCRT. It has been mentioned that the company’s plants are the profitable sector of interest for potential investors. In the past, there was a dismissal of the YCRT administrator due to corruption allegations.
YCRT, which employs 2,200 workers and is vital for the economy of three cities in Santa Cruz, has been included in the list of potential privatizable companies according to the Bases Law. The measure to convert it into a Corporation was confirmed through decree 115/25 published in the Official Bulletin. The dynamics surrounding the possible privatization have generated rejection from unions and union leaders, who fear for the future of the company and its workers.
Amid these decisions, there have been reports of failed attempts to commercialize coal, and interests from economic groups have been mentioned regarding the acquisition of the mine. The controversy has gained strength in a context where the privatization of state-owned companies strategic for the country's sovereignty is being questioned. Unions and workers have expressed their opposition to the privatization of YCRT and have recalled similar attempts in past decades that were successfully resisted.
