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Context: Environmental impact studies (EIS) are important tools since they allow forecasting the consequences of the development of an extractive activity in the environment that surrounds it. The objective of this work is to perform the environmental impact assessment of “La Represa,” a flagstone quarry located in San Luis Province, Argentina. Method: A double-entry matrix was used to assess the environmental impacts in the environment affected by extractive activities. This matrix considers certain qualities of environmental liabilities that are introduced in a function to generate an index called “Importance of Environmental Liability” (IM). By comparing these indices, it is possible to determine the environmental impacts that are critical for the studied environment. Results: The analysis allowed to determine that the landscape is the only environmental element that has a critical negative impact in the vicinity of the exploitation of the quarry. However, there was evidence of an important improvement in the quality of life of the inhabitants of the area from this mining undertaking. Conclusions: The exploitation of flagstone is essential for the maintenance of several families in the village of Riocito. However, it is advisable to take measures that can amortize the negative effect on the landscape of the place. This paper proposes some remediation and restoration options that could be implemented during and at the end of the operation.