Argentina veto’s glacier law

Legal Brief

Publishing Date: 17 Dec 2008 4:23pm GMT
Author: Mining Environmental Management

Legal and Legislation

ARGENTINA’S president, Cristina Fernandez, has vetoed a law protecting the country’s glaciers. The law, which was passed by congress in November, restricted drilling on or near glaciers in the country, and could have restricted development of Barrick Gold Corp’s US$2.4 billion Pascua Lama project straddling the Argentine-Chilean border.

Ms Fernandez said governors feared the law could threaten economic development in the Andean region where the project is located.

Barrick has come under intense environmental pressure not to develop the project because of its potential impact on Andean glaciers, and was awarded approval for the Chilean side of the project only on the proviso that it would not damage glaciers.
Environmentalists in Argentina have disagreed with the president’s decision, saying it makes it clear she does not care about the people whose water supply comes from glacier-fed basins. The Pascua Lama project has also been delayed by tax negotiations between Argentina and Chile, which are still to be resolved.