The CEO of Glencore, Gary Nagle, highlighted the current economic stability of Argentina during the business forum of Argentina Week in Paris and stated that the continuity of the policies promoted by the Government of Javier Milei will generate a strong increase in investments in the country.
During his presentation, the businessman stated: “If the President is re-elected, investments will multiply throughout the country”.
Nagle made this remark after referring to the success of the Incentive Regime for Large Investments (RIGI) and the reduction of country risk as factors that provide predictability for long-term projects.
President Javier Milei
The statement from the CEO of Glencore explicitly refers to the re-election of President Javier Milei and the long-term continuity of his economic policies, an essential condition to ensure stability and unlock massive investments throughout Argentina.
The declaration was made during the business meeting that the Argentine government is promoting in Paris to boost investments and advance new projects.
Nagle's proposal was joined by statements from other international executives who participated in Argentina Week. Jerome Pecresse, CEO of Rio Tinto, also highlighted the conditions offered by the regime for large investments.
Javier Milei and Gary Nagle
Announcements of multimillion-dollar investments
While the forum was taking place in Paris, other companies announced new projects in Argentina. Pan American Energy presented an investment of approximately USD 1.2 billion under the RIGI to increase conventional oil and gas production at Cerro Dragón, in Chubut.
The project includes the installation of 22 polymer injection plants, the drilling of 100 new wells, and the intervention of another 600 producing wells.
For its part, TotalEnergies announced a project of USD 5 billion under the RIGI to expand oil production in San Roque, Neuquén. The company is also considering investments between USD 4 billion and USD 5 billion to increase its gas production in Aguada Pichana.
In the mining sector, Eramet confirmed its intention to apply for entry into the RIGI to advance with the first expansion of its lithium project Centenario-Ratones, in Salta.
The initiative includes a potential additional investment of approximately USD 350 million and will allow an increase of 11,000 tons per year in lithium carbonate production capacity.
In this context, Nagle's words reflect the importance of the continuity of the current economic direction and policies like the RIGI in the investment decisions of large companies.
