RIGI: Mining Investment Boom
With new projects approved and the extension of the incentive program through 2027, the government seeks to consolidate mining as a driver of exports, employment and regional development.
Open-pit mining operation in the Andes mountain range.These types of projects attract millions in investments driven by the RIGI.
The Large Investment Regime (RIGI) is beginning to deliver concrete results in one of the strategic sectors for the Argentine economy: mining.
With the recent approval of new projects and the extension of the scheme through July 2027, the volume of committed investments now exceeds USD 26 billion. The announcement was made by the Economy Minister Luis Caputo who emphasized that the measure aims to provide predictability for investors and accelerate the development of key activities such as lithium, gold, silver and copper.
New projects boosting the sector
In recent weeks, two mining initiatives totaling USD 1.14 billion have been added. On the one hand, there is the expansion of the Veladero mine in San Juan, with an estimated investment of USD 380 million. On the other hand, there is the Diablillos project, located in northwestern Argentina between Salta and Catamarca, is expected to involve expenditures of USD 760 million.
According to official projections, both developments will generate more than 2,300 jobs and annual exports of nearly USD 750 million, strengthening the country’s export profile.
Mining, a key player in the RIGI
Currently, the program has 12 approved projects and mining plays a central role within the framework. In particular, initiatives related to minerals critical for the energy transition stand out.
Among these, notable projects include Rincón, led by Río Tinto; Hombre Muerto Oeste, and the Los Azules copper project. It is considered one of the most significant projects, currently underway in the country.
The sector’s growth occurs in an international context of strong demand for lithium and copper, key inputs for batteries, renewable energies and electrification.
Incentives to attract investments
RIGI’s appeal lies in a package of tax, customs and exchange rate benefits tailored to large-scale projects.
These include:
- Reduction of income tax.
- Elimination of export withholding taxes.
- Advanced VAT refund.
- Fiscal stability for up to 30 years.
- Access to international arbitration
Furthermore, the recent extension of the regime through 2027 aims to consolidate a framework of clear rules in a sector characterized by long- term investments.
A step change for the economy
Beyond its immediate impact on employment and economy activity, RIGI aims to position Argentina as a global supplier of strategic minerals.
With abundant resources and projects at different stages of development, mining stands out as one the sectors with the greatest potential to generate foreign currency and transform the country’s productive structure.
In this context, the challenge will be to maintain regulatory stability and turn announcements into concrete investments. If successful, RIGI could mark the beginning of a new phase for Argentina’s mining industry on a larger scale, international integration and a leading role in the global energy transition.