The Argentinian province of Mendoza is reversing a historic opposition to mining and aims to open the country’s first significant copper mine in 2027. The improved business environment has sparked a flurry of activity in Argentina’s copper sector. The country’s new government has sought to alleviate that by passing the Incentive Regime for Large Investments (RIGI). The program, which creates favorable tax and exchange rate conditions for international investors deploying large amounts of foreign capital, is particularly relevant for capital-intensive copper projects. Argentina’s estimated 75 million tonnes of copper give it the world’s sixth-largest reserves, but projects have been held up by unfavorable macroeconomic and political conditions.
February 18, 2025
SOURCE: FAST MARKETS