Argentina Touts Investments Under Incentives Program

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Argentina's RIGI program has attracted up to US$69.2 billion in proposed investments across the energy, mining and infrastructure sector. The government forecasts a US$75 billion energy and mining trade surplus by 2035.

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RIGI is Praised

Argentina Minister of Economy Luis Caputo recently praised Argentina's Incentive Regime for Large Investments (RIGI) for the economic benefits that it is generating for the country. He also offered insights into the government's efforts to control inflation and increase economic activity.

RIGI includes fiscal and legal benefits, such as long-term legal frameworks, access to foreign exchange and export-duty benefits for investment projects of more than US$200 million.

"The goal is for the benefits of the RIGI to reach the entire economy, but we had to start somewhere," Caputo said.

So far, 32 projects have been submitted to RIGI, totaling US$69.2 billion, with the potential for 134,000 jobs and US$40.27 billion in potential exports.

Of these, 12 projects have been approved, representing US$26.6 billion and 35,600 jobs.

Caputo said he expects more projects to be submitted to RIGI before its deadline, which was extended for a year to July 8, 2027.

"This is going to generate a massive change, and we'll start seeing it this year. For the next four to six years, we're going to see a level of investment unlike anything we've ever seen in Argentina," he added.

Of the 32 RIGI projects submitted, the breakdown includes:

• 18 mining projects worth US$45.6 billion
• Eight oil and gas projects totaling US$22.1 billion
• Three energy projects amounting to US$706 million
• Two infrastructure projects worth US$477 million
• One US$286 million iron and steel project

The minister expressed caution, acknowledging that many mining projects require lengthy development periods, but noted that Argentina's energy industry could advance more rapidly.

Despite this, the government forecasts a trade surplus of US$45 billion by 2030, with energy accounting for US$30 billion and mining accounting for the remaining US$15 billion. The trade surplus is expected to increase to US$75 billion by 2035, driven by the completion and start of operations of some projects, with energy assets representing US$44 billion and mining the remaining US$ 31 billion.

Vaca Muerta, one of the world's largest shale oil and gas reservoirs, and Argentina's copper and lithium-rich northern regions are expected to lead the economy.

Vaca Muerta's oil production has increased from 29,000 barrels of oil per day (BBL/d) in 2016 to around 500,000 BBL/d in 2025, according to the energy ministry. Gas production also has risen substantially.

Meanwhile, several mining companies, including Rio Tinto, Lundin and Glencore, have announced large projects. Many of them have already applied for RIGI incentives.

A new glacier protection law approved by Senate in February could speed up mining developments in Argentina's north. The nation's Chamber of Deputies is set to begin discussion on the controversial bill in March.

Economy in Check Under Milei

Argentina's economy minister highlighted the government's efforts in controlling inflation, which decreased from 289% in April 2024 to 32.4% in January 2026. It has been able to do so by cutting public investments and reducing tax cuts.

"We have the highest level of the Monthly Economic Activity Estimator (EMAE), with 11 of the 15 sectors having grown in the last year," Caputo said.

RIGI projects include:

• Veladero above-ground gold-silver mine heap leach pad expansion
• Diablillos grassroot silver-gold mine
• Los Azules grassroot copper mine and processing plant
• Hombre Muerto west brine extraction and lithium plant
• Salta Rincon brine extraction & lithium processing plant expansion phase I
• Vicuna Josemaria grassroot above-ground silver-copper-gold mine
• Gualcamayo gold underground mine and processing plant addition
• El Pachon copper-molybdenum mine and concentrator
• MARA above-ground polymetallic mine (Agua Rica)
• Sal de Vida brine extraction and lithium potash processing plant
• Sal de Oro lithium processing plant expansion phase II
• Cauchari-Olaroz brine extraction & lithium processing phase II
• Salar del Hombre Muerto lithium carbonate plant expansion
• San Nicolas grassroot steel mill
• Uspallata (PSJ Cobre Mendocino) copper mine & concentrator
• Mariana brine extraction & lithium processing plant expansion phase I
• Pozuelos-Pastos Grandes grassroot brine extraction and lithium plant
• Vaca Muerta Oil Sur pipeline
• Hilli Episeyo floating natural gas liquefaction (FLNG) plant
• Timbues grassroot refined products terminal
• Los Toldos 2 Este shale oil processing plant
• Rincon de Aranda shale oil central production facility
• Timbues multipurpose river port
• Timbues grain terminal
• Mendoza 200-megawatt (MW) El Quemado photovoltaic power plant
• Olavarria 186-MW windfarm
• Buenos Aires 94.5-MW la Rinconada windfarm

Key Takeaways

• RIGI projects amount to US$69.2 billion.
• Projects approved by the RIGI account for US$26.6 billion.
• The projects could generate a trade surplus of US$75 billion by 2035.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).