Buenos Aires, Argentina-based firm Bruchou Fernández Madero & Lombardi has bolstered its mining practice with the addition of Sergio Arbeleche and Sebastián Vedoya as partners and practice co-heads. Arbeleche and Vedoya were previously partners at Zaballa Carchio Abogados. Working together for nearly two decades, the pair have provided input into the design and drafting of mining rules and regulations at the national and provincial levels. The lawyers have been giving specialized counsel to companies involved in numerous projects including the Veladero Mine, the Pascua Lama Project, the Manantial Espejo Mine, the Navidad Project, the Los Azules Project, the Pirquitas Mine, and the Lomada de Leiva Mine.
According to Arbeleche and Vedoya, the mining sector is suffering globally and worldwide because of a stall in commodities prices, including the prices of minerals.
“Those prices stopped going up and in some cases went down,” they said. “Argentina has not been an exception to that global trend. The global situation caused some temporary issues in the Argentinean economy that are affecting several sectors, not only mining.”
However, Arbeleche and Vedoya believe that there is a silver lining for the sector.
“Despite the global context and certain local hurdles that Argentina faces, many of Argentina’s mining investors remain and move forward with their projects in the local market and some other new investors have even stepped in to develop existing projects,” they said. “Local players and foreign investors who are looking for good opportunities have been closing good deals for the development of mining projects of different sizes. We do think that mining in Argentina has performed well despite the global issues, and that it is ready to receive new investments in the mining sector in view of the promising future Argentina has and [levels of activity] that will eventually get back to normal, given the cyclic behavior that mining activity and prices have.”