en.Wedoany.com Reported - A report titled "Argentina's Mining Potential" compiled by the National Mining Secretariat (Secretaría de Minería de la Nación) shows that the mining sector has become one of the main drivers of the country's Large Investment Incentive Regime (RIGI), concentrating over 50% of the projects under the regime and accounting for 25% of the committed investment.
Currently, nine mining projects have received RIGI approval, with investments totaling $10 billion. The total number of approved and pending mining projects has reached 20, with investments close to $50 billion. Among the approved and pending projects, 10 involve lithium, 6 involve copper, and 3 involve gold and silver.
The province of San Juan stands out due to the advancement of several major copper mine projects, with three plans already approved under RIGI: Los Azules, with an investment of $2.672 billion; Gualcamayo, with an investment of $665 million; and Veladero, with an expansion investment of approximately $380 million. Additionally, two large projects, El Pachón and Vicuña, have applied to join the regime and are still under evaluation. El Pachón is expected to require an investment of $9.5 billion, while Vicuña, comprising Josemaría and Filo del Sol, is projected to require $18 billion in the first ten years. Considering both approved and pending projects, the investment potential related to San Juan exceeds $31 billion.
The prominence of copper is linked to the international context. The official report cites data showing that global copper demand continues to grow, potentially leading to a supply gap of nearly 30% by 2035. The world needs to significantly increase production to meet the demands of the energy transition and industrial growth. In this context, Argentina has become one of the countries with the greatest growth potential, with proven copper resources of nearly 118 million tons. The Mining Secretariat estimates that by 2035, the country's annual copper production could reach 1.6 million tons, generating over $19.2 billion in exports. With world-class projects such as Vicuña, Los Azules, Altar, and El Pachón, San Juan is poised to become a key player in this outlook.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
