BNamericas cited Mr Hugo Nielson mining expert as saying that the Argentine government's recent decree that export revenues derived from mining operations be repatriated and converted into local currency is causing uncertainty among sector companies.

Mr Nielson said that Rather than its direct effects the decision has generated uncertainty among sector companies because the regulations were changed without any notice.

He said that until now, miners could keep all foreign currency from sales outside the country and were exempt from the laws that require other export sectors such as the agricultural and auto industries to repatriate foreign revenues. The decree was implemented without consulting with any industry players.

He added that it's a sign of the mining authority's lack of efficiency. If there was an authority to defend the interests of the mining sector, perhaps another decision would have been made. The decree will guarantee the government USD 3 billion in additional annual income.

(Sourced from Business News Americas)