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12/9/16

Argentina's lower house of congress votes to re-impose mining export tax

You know all that hoopla and "isn't Argentina wonderful?" stuff we got from the rah-rah boys about Argentina under Macri, and you remember how his decision to repeal the export tax on mining was the Best. Thing. Ever? Well last night the lower house of congress (deputies) voted to re-install that very tax. It's a bill that needs to get past the upper house (senate) and then not be vetoed by Macri himself before it becomes law, but even if it doesn't prosper it's a serious shot across Macri's bows for the mid-term elections of next year.

When it comes to Argentina and mining, fools rush in where angels fear to tread (not that I'm particularly angelic, mind you).