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Argentina targets mining firms in import crackdown

BUENOS AIRES, May 28 (Reuters) - Argentina's government tightened controls on imports of equipment and supplies by mining companies on Monday in a new measure to boost the trade surplus and foreign currency stocks.

BUENOS AIRES, May 28 (Reuters) - Argentina's government tightened controls on imports of equipment and supplies by mining companies on Monday in a new measure to boost the trade surplus and foreign currency stocks.

Mining companies operating in the South American country, which include Xstrata, Barrick Gold Corp and AngloGold Ashanti, will have to get prior approval for overseas purchases and submit import plans 120 days in advance.

They will also have to consider swapping imports for locally produced goods, a government statement said.

Click here to read the entire story

Categories: Industry News
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