NEWS

Aldana Ricigliano, CEO of Bluemoon, discusses the challenges facing small-scale miners and explains how her company supports them throughout the entire process- from the initial analysis of their mineral resources to the marketing and sale of their production. The initiative is particularly important for the mining industry because small and medium-sized mining enterprises (SMEs) form the foundation of Argentina's mining production network. Made up primarily of companies engaged in mineral exploration, extraction, and the processing of industrial minerals and other non-metallic resources, this segment also includes numerous suppliers of equipment, services, engineering, transportation, and maintenance for the country's large-scale metal and lithium mining projects.

Its greatest strength lies in its ability to generate local employment, stimulate regional economies, and provide highly specialized solutions grounded in deep knowledge of the territory. At the same time, the sector faces significant challenges: limited access to financing, high logistics costs, the need to adopt new technologies and international sustainability standards, and dependence on investment cycles in large-scale mining. As Argentina experiences a new wave of copper, lithium, gold, and silver projects, strengthening mining SMEs has become essential to increasing local participation in the mining value chain, diversifying production, and ensuring that the economic benefits of mining are distributed more broadly throughout the country. According to Bluemoon's CEO, the company's goal is to help these producers make better use of their resources, obtain fair prices, and become part of a more efficient, formal, and fully traceable production chain.

When we talk about small-scale miners, what kind of producers are we referring to, and why are they a strategic sector for the growth of the regional mining industry?

We are talking about very different realities. Some people own mining properties but still don't know how to develop them. Others started a project but had to put it on hold because they ran out of resources. And then there are those who are already producing. That last group is the one we're especially interested in today. In many cases, these are individuals or small businesses operating with very limited resources. Some extract minerals in an almost artisanal way and depend on what they produce to make a living. They don't have large organizational structures, sophisticated machinery, or permanent technical teams. Quite often, they also lack the resources needed to complete all the administrative and technical procedures required by the industry. Even so, they are already producing and creating value. With the right guidance, reliable analytical data, and sound technical advice, they can make much better use of their mining properties, increase productivity, and join formal commercial markets. That's why we see this segment as having enormous potential.

What are the main obstacles these producers face in turning their production into certified, traceable, and marketable precious metals?

The challenges arise on several levels. On the one hand, there is the entire legal and administrative side of the business. Developing a mining operation requires proper property documentation, mining rights, exploration studies, and an appropriate legal and tax structure. Completing that process requires resources that are often beyond the reach of a small producer. Informality is not always the result of a desire to operate outside the rules. In many cases, it is simply the consequence of limited resources, lack of information, and insufficient guidance. Producers want to work, support their families, and grow their businesses, but they are confronted with a long list of requirements they either don't know how to address or simply cannot afford.

And that's only part of the problem. There are also significant technical challenges.

Exactly. Making informed decisions requires much more than extracting a sample and confirming that it contains gold or silver. Producers need to analyze different areas of the property, determine ore grades, estimate volumes, and evaluate recovery potential. The material must also be prepared according to the standards required by processing plants and refineries. The same applies when seeking investment. No serious investor makes a decision based on two isolated laboratory results. Investors need organized, reliable information about the available mineral resources, estimated quantities, required processing methods, project timelines, and the likelihood of recovering their investment. Without that technical foundation, small-scale miners are in a very weak negotiating position.

Bluemoon provides comprehensive support that includes laboratory analysis, refining, secure storage, and precious metals commercialization. How is this model adapted to the needs of small-scale producers?

The process begins in the laboratory. Producers send us samples collected from different parts of their property. We analyze those samples and help them map the results. This allows them to understand the mineral concentration in each area and determine where it makes the most sense to begin mining. The goal is to prevent blind extraction. If one area shows significantly better results than another, producers can focus their efforts there and make much more efficient use of their resources. We also evaluate the concentration methods they are already using and look for ways to improve those processes with the equipment they already have. When additional machinery or outside capital is needed, we assess the available options and help organize the technical information required to present the project to potential investors.

What difference does it make for a small-scale miner to have analyses performed by a specialized laboratory?

It makes an enormous difference. Many producers know they have gold or silver, but they don't know the exact ore grade, nor do they have the technical evidence needed to demonstrate its value to a buyer or a potential investor. Reliable laboratory analysis allows them to negotiate on the basis of objective information, reduce uncertainty, and accurately establish the true value of their material. In other words, the laboratory becomes much more than a technical service- it becomes a commercial tool. The better producers understand what they have, the better the decisions they can make throughout the entire development of their project.

And what happens after that stage of the process?

Our support continues through the commercial phase. When the material meets the requirements to be processed at our facility, Bluemoon can purchase and refine it. In other cases, we act as an intermediary between the producer and the appropriate refinery or buyer. We also assist with documentation, traceability, and compliance with the requirements needed to access more demanding markets. For example, we are currently working with a mining project in the Famatina region of La Rioja Province. Based on our laboratory analyses, we were able to advise the producers on how to organize extraction according to the different areas of the property and the seasonal weather conditions. They are now concentrating the material and assembling the volume required to move forward with international commercialization.

What impact can this work have on Bluemoon's growth and on building a more efficient, transparent, and sustainable mining value chain?

Bluemoon also started and grew as a family-owned company. We know firsthand what it means to go through economic downturns, periods of expansion, and difficult times. During industry conferences and trade shows, small-scale producers would approach us asking whether we could purchase their metal or help them market it. That was when we realized there was a very real need. Many of these producers end up selling their material through channels that fail to recognize its true quality. They may deliver gold of a certain purity yet receive payment based on a much lower value simply because they lack reliable laboratory analyses or access to better marketing options. Our goal is to make sure they understand the value of what they have and receive the price they truly deserve. We don't want all their hard work to end up being worth next to nothing, as happens far too often.

What is the key factor in building and strengthening these production networks?

An efficient value chain begins with information. When producers understand their mining property, they can focus on the areas with the greatest potential. When they improve their processing methods, they obtain higher-value material. When they are able to market that material properly, they generate the revenue needed to sustain operations, pay employees, hire additional workers, and invest in new equipment. Once that cycle begins to move, the project has a genuine opportunity to grow. For Bluemoon, working with small-scale miners means expanding and strengthening a regional network of producers, applying our comprehensive knowledge of the business, and building a bridge between smaller-scale production and formal markets. We are not seeking to replace the producer's legal responsibilities or the formalization policies established by each jurisdiction. Our goal is to provide the technical and commercial tools that allow producers to make better decisions, negotiate from a stronger position, and become part of a more professional and fully traceable mining industry. Ultimately, it is about putting Bluemoon's experience, laboratory capabilities, and commercial expertise at the service of projects that already exist and simply need the opportunity to reach their full potential.