Argentina and Chile pledged to revitalize an existing mining treaty between the two Latin American countries to facilitate the development of cross-border mining projects, said the Argentine Undersecretary for Mining Sustainability Juan Biset at Paydirt's Latin America Downunder conference in Perth on May 16.

The treaty concerns a geologically promising region in the Andres that encompasses an area of almost 5,000 square kilometers.

"It doesn't matter where your asset lies, it doesn't matter where you want to put your plant, it doesn't matter where your water is coming from, if it is within the space of this agreement, both governments will work to get it off the ground. So, we are very proud of that," Biset said.

He added that mining had been identified as a key sector to develop in Argentina and the Latin American country seeks to become a major mining destination in the coming years.