Ley 25.429

***Comment. A convenient frame of business activity is given, restricting the territorial aspect to amultipurpose scale.ARTICLE 6: The following activities are excluded from the régime of this law:a) Liquid and gaseous hydrocarbons.b) Industrial manufacture of cement based on roasting inclusive, of mineralmaterials.c) Industrial manufacture of ceramics.d) Sand, boulders and chipped stones for construction.***Comment. Different steps must be delimited within the mining activity, such as: "Prospecting andexploration", "ore extracting", "ore beneficiating" and "industry". Even though there exists no problem indefining the first two steps, we face some difficulties in determining a universal limit between thebeneficiating, and industrial stages in as much as specific differences exist within each mining activity.Taking into account this type of problems, all activities encompassed in prospection, exploration, andextracting stages (Article 4, clause (2), and activities linked to beneficiating and industrial stages(Article 5, clause 5, clause (b), have been designed as "included activities" --with the specificallydetermined exceptions to be found in Article 6. Defining the so called "included activities" responds apolitical decision of fostering mining activities implying a marked risk.CHAPTER IVFISCAL TREATMENT OF INVESTMENTSARTICLE 7: The general taxing system with the amendments established inthis chapter shall apply to all parties developing the activities included in thisrégime according to the provisions of Chapter III.TITLE IFISCAL STABILITYARTICLE 8: Mining ventures included herein shall enjoy fiscal stability for aperiod of 30 years counted as from the date of presentation of the feasibilitysurvey.Fiscal stability means that framework of this Investments Régime shall not bearmore total tributary burdens, defined at the moment of presentation, for miningactivities as a consequence of increases in tax and rate contributions, whatevertheir denomination, either national, provincial or municipal, or the creation of newones which could apply to them as included in the laws thereof.The above shall also apply to exchange and duties systmes, excluding rate ofexchange and reinbursements and/or returns of taxes due to exports.***Comment. A 30-year fiscal stability is guaranteed to parties concerned since it is considered to be asuffiently wide span to cover development of any mining activity inclused in the present regime. Fiscalstability is granted as from the submitting of a feasibility survey of each project since there exists anactual imossibility to determine - even appromimately - which lapse of time is required by activitiesaimed at clarifyng an operative ability.Obviosly, “fiscal stability” does not mean that either towships, provinces oreven the National State are unable to modify tehir respective fiscal structures -what is mea is that no modification in the fiscal structure will imply any increase inthe type and amount of taxes to be levied on the above mentioned mining firms ascertifies according to Article 10 when such firms submitted their feasibility26