Argentina OKs Two Mining Projects Under the RIGI

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

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Summary

San Jorge's copper project and the Cauchari-Olaroz lithium expansion are the latest two projects to be added to the RIGI. So far, 16 projects have been approved under the economic scheme, which grants fiscal and legal benefits to companies' investing in large projects in Argentina.

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Two Major Projects on the Way

Luis Caputo, Argentina's Minister of Economy, announced two more projects have been approved under Argentina's Incentive Regime for Large Investments (RIGI). A total of 16 projects now have been approved under the program.

The RIGI is a scheme granting companies that invest more than US$200 million in individual Argentine projects with long-term fiscal and legal benefits, including foreign exchange flexibility, tax breaks and import duty cuts.

The two latest projects added to the list are Minera San Jorge's copper project in Mendoza and Lithium Argentina and Ganfeng Lithium's Cauchari-Olaroz Phase II lithium expansion project in Jujuy.

According to Industrial Info Resources data, San Jorge's copper project in the Mendoza province will involve investments of US$891 million for construction, maintenance and closure. About US$630 million of that total will be destined for the construction phase.

Owners, Zonda Metals GmbH and Grupo Alberdi, plan to begin construction in 2027, lasting up to two years. The project targets 40,000 tonnes copper output per year and a mine life of 16 years, potentially extendable to 27. For more information on the Mendoza project, the Industrial Info Resources Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases offer details--including key contacts, investment values and necessary equipment--in a project report and plant profile.

The Cauchari Olaroz expansion aims to increase lithium carbonate equivalent (LCE) production from 40,000 to 85,000 tonnes per annum. Total investments into the project amount to US$1.24 billion. Readers can learn more from a detailed project report and plant profile.

The companies expect the formal resolution approving the final technical evaluation by June this year.

Together, these two projects are expected to create more than 8,000 jobs, according to Caputo, as well as generate important exports for the country.

So far, 16 projects have been included in the RIGI, ranging from maritime terminals and renewable power plants to liquefied natural gas (LNG) export terminals and mining projects.

Argentina's Mining Role

Argentina has not produced copper at commercial scale since Bajo de la Alumbrera closed in 2018. However, the nation's vast resources have attracted companies worldwide aimed at reigniting the industry.

In recent years, multiple projects such as Vicuña, Los Azules, Taca Taca, MARA, and El Pachón have continued moving toward development with the hope of transforming Argentina into one of the world's largest producers. Readers can consult detailed project reports on Vicuña, Los Azules, Taca Taca, MARA and El Pachón.

Some estimates suggest that Argentina could produce up to 2 million tons of copper per year with the construction of these assets.

Industrial Info Resources is tracking 13 lithium plants and mines active in Argentina, including the Fenix mine and the Sal de Oro Plant. Additionally, Industrial Info Resources has mapped 80 lithium projects across the country worth investments of US$24.54 billion. Readers can consult detailed profiles of the Fenix and Sal do Oro plants.

Glaciers Law

In April, Argentina's Congress approved amendments on the existing glaciers law, aiming to facilitate new mining investments while modifying how glacier protection is managed and enforced.

Key takeaways

• San Jorge's copper project and the Cauchari-Olaroz lithium expansion are the latest two projects to be added to the RIGI.
• Together, they will attract over US$2.1 billion in investments.
• Argentina could soon become a major lithium and copper producer.

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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 verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).