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Zijin Mining and Barrick (ABX) are in JV talks over Pascua Lama

According to a weekend radio inteview with Felipe Saavedra, mining minster for the San Juan province of Argentina (where the ‘Lama’ part of Pascua Lama is located), the Chinese mining company that wants to JV with Barrick (ABX) on the troubled project is Zijin Mining. Here’s the interview in San Juan daily Diario de Cuyo, but you need to listen to the audio for the full Q&A. Here’s one of the most interesting bits transcribed and translated:

Radio: Do you know anything about the interest that China has to participate in Pascua Lama? 

Saavedra: In China I met with companies from that country and they told me they were interested in investing in Argentina and particularly in San Juan. One of the projects they told me they were interested in is Pascua Lama. We can be sure that in the months to come we’re going to have visits from those companies. 

Radio: That would be to associate with Pascua Lama? 

Saavedra: They confirmed to me that they were in talks with Barrick. It’s the Zijin Mining company. It would be to come in as an investor, this was confirmed to me by the CEO of the company. Also, they’ve already visited the project on several occasions.

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