MercoPress. South Atlantic News Agency
Dollar clamp measures hit Argentine mining industry and exports are “at bare minimum”
Mining companies in Argentina have sharply reduced exports because they are unable to meet a new government rule forcing them to cash in the proceeds within 30 days, the head of an industry group said. Read full article
Comments
Disclaimer & comment rulesThings are hotting up, and this isn't good for the avarage Argentine. Time for a change really as the present gov is clearly out of it's depth - what are the alternatives for the good people there?
Jun 21st, 2012 - 06:07 pm - Link - Report abuse 0Nothing but good news coming from Argentina!!
Jun 21st, 2012 - 06:37 pm - Link - Report abuse 0They should be so proud...China like growth indeed!
giggle giggle
Argentinas fecked, no sympathy, LNG running low, car factories closed down because of shortage of parts, mining companies cant export , farmers produce rotting at borders.hospitals running out of basic supplies and drugs.
Jun 21st, 2012 - 06:52 pm - Link - Report abuse 0Protectionism isnt working.30% inflation.
I wonder how long CFK has left,and whether the next lot will be worse as is the Argentinian tradition.
BANG! left foot shot, BANG! right foot shot.
Jun 21st, 2012 - 07:21 pm - Link - Report abuse 0CFK: Timmidman, what's left?
Timmidman: Try your head, even I've had enough of this shit!
It's going to come sooner, rather than later by the look of things. Ha, ha, ha, ha.
As spectacular own goals go, there are few more spectacular than this.
Jun 21st, 2012 - 07:31 pm - Link - Report abuse 0A nation of imbeciles.
The Falklands are going to look like more of a utopia to them every day. I hope they're not inundated with hordes of Argies that manage to doggy-paddle 300 miles because they're so desperate to live somewhere that's not run by crazed incompetents.
Jun 21st, 2012 - 07:37 pm - Link - Report abuse 0No gas, no dollars, no workers, no military, screaming inflation without the ability to match wages to it and no Malvinas.
Jun 21st, 2012 - 10:58 pm - Link - Report abuse 0All of that equals no votes?
Chuckle chuckle.
If these mining companies are refusing to invest and export for “market” reasons, they should be nationalised like YPF and freed from the market
Jun 22nd, 2012 - 07:12 am - Link - Report abuse 0@9 It's not “market reasons” that are stopping them exporting BK, it's the incompetence of the govt headed by your beloved! They're the ones so desperate for dollars they insist on unworkable arrangements. No company that exports can guarantee they'll be paid in 30 days - I'd love to know what idiot thought that one up! The previous requirement of a year sounds about right.
Jun 22nd, 2012 - 07:19 am - Link - Report abuse 08 BK
Jun 22nd, 2012 - 08:38 am - Link - Report abuse 0I agree. That's what she should do without further hesitation.
Chuckle chuckle
Lmao, If anyone asked my company to pay within 30 days for raw materials (work in the casting industry) we'd laugh in their faces. 90 days EOM for Foreign purchases and we are probably pretty quick payers.
Jun 22nd, 2012 - 09:55 am - Link - Report abuse 0Probably have to sell heavily below market rate to get any interest
9 JPhillips (#)
Jun 22nd, 2012 - 01:25 pm - Link - Report abuse 0I should think that the idiot is Guillermo Moreno, probably the worlds most outstanding “progressive” idiot!!!
Argentine mining industry and exports are “at bare minimum”
Jun 22nd, 2012 - 03:23 pm - Link - Report abuse 0What a shame.
@12 Ah, he of INDEC infamy? According to his Wikipedia page he used to run a hardware store - you'd think that would give him some idea of the concept of invoices, payment terms etc!
Jun 22nd, 2012 - 04:20 pm - Link - Report abuse 0Commenting for this story is now closed.
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