A recent report reveals that Yacimientos Carboníferos Río Turbio (YCRT) is heavily indebted, lacks proper documentation, and has a non-operational power plant, complicating governmental efforts to privatize the company.
The latest report from the General Audit Office of the Nation (SIGEN) provides a critical assessment of Yacimientos Carboníferos Río Turbio (YCRT), a mining company in Santa Cruz, Argentina, which has been under intervention for over 24 years. Key issues highlighted include substantial debts, missing documentation, and a dormant power plant that should produce 240 MW. This situation is compounded by the fact that the company has relied on substantial state funding to remain operational. The report casts doubt on the viability of privatizing YCRT, as the government pushes forward with plans to restructure it as a joint-stock company modeled after YPF, the state-owned oil company.
