Thursday, September 30, 2010

Argentina passes the "Glacier Law"

 Pascua Lama, Barrick's thing up high there

As expected, last night Argentina's upper house, the Senate, passed by 35 to 33 (one abstention) the so-called "Glacier Law" that will protect glaciers in the upper reaches of the Andes of Argentina from development, aiming particularly at mining companies. It now only needs the Presidential signature to become law and Klishtina has said she's going to sing this one (after vetoing the original law nearly two years ago). La Nacion has a good report of proceedings here, while Reuters covers it in English here. Here's a chunkette from the Reuters report:

BUENOS AIRES, Sept 30 (Reuters) - Argentina's Senate passed a law on Thursday that curbs mining on the nation's glaciers, a measure praised by environmentalists but criticized by supporters of the industry as a deterrent to investment.

Senators approved the law with 35 votes in favor and 33 against after hours of debate, eventually agreeing to accept changes made in the lower house that pro-mining provinces had opposed.CONTINUES HERE

As for the repercussions on this, IKN Weekly readers know the opinion of this humble scribe. DYODD, dude.