The Incentive Regime for Large Investments (RIGI) already exceeds USD 25,000 million approved and confirms Argentina's return to the map of international capital
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The Governmentnacional announced the approval of a new mining project that will be incorporated into the Incentive Regime for Large Investments (RIGI), one of the central pillars of the economic policy promoted by Javier Milei's administration. This is the Gualcamayo project, a gold and silver mining development in the province of San Juan, which will require a total investment of USD 665 million and will create 1,700 direct jobs.
The confirmation was made by the Minister of Economy, Luis "Toto" Caputo, through his official account on the social network X. "Important: new RIGI approved. The RIGI Evaluation Committee approved the Gualcamayo project, a gold and silver mining development in the province of San Juan with a total investment of USD 665 million," wrote the head of the Palacio de Hacienda.
Toto Caputo en X:
Caputo also explained that the initiative will make it possible to extend the useful life of a mine that is in an exhaustion stage, through the development of a "different type of mineralization". According to his explanation, the project will employ 1,700 people directly, which represents a significant impact both in productive and labor terms for the region.
With this incorporation, ten projects have already been approved under the RIGI, with a total investment that exceeds USD 25,000 million. The figure reflects the change in economic direction promoted by the libertarian Government, which seeks to leave behind years of interventionism, controls, and distrust toward private investment, especially in strategic sectors such as mining and energy.
The announcement adds to other initiatives of historic magnitude. In mid-December, Caputo confirmed that the international companies BHP and Lundin Mining requested their entry into the RIGI to develop the Vicuña mining project, also located in San Juan. In this case, the minimum planned outlay amounts to USD 2,000 million during the first two years.
"BHP and Lundin Mining have just applied to the RIGI for their Vicuña project. Vicuña is a gigantic copper, gold, and silver project in the province of San Juan, potentially the largest mining foreign direct investment in the history of our country, for the development and construction of the Josemaría and Filo del Sol deposits", stated Caputo.
This project was submitted under the modality of Long-Term Strategic Export Projects (PEELP), which grants benefits for 40 years —ten more than the standard regime— and includes facilities such as the repatriation of profits and exemptions from export duties within shorter time frames.
In parallel, the Government is analyzing the possibility of extending the RIGI enrollment period for an additional year, given the marked interest from the private sector. The current deadline expires in July 2026, although the regulations allow a single extension of up to one year.
Daniel González, Secretary of Energy and Mining Coordination, indicated that more than 27 projects have already been submitted under the regime, mainly in the energy and mining sectors. "My personal recommendation will be to extend it, because it reflects the economic model we aspire to: without export duties, with lower taxes, and with streamlined procedures", he pointed out during a sector event.
El gobierno anunció la aprobación de un nuevo proyecto minero con una inversión de más de USD660 millones.
The appeal of the RIGI lies in concrete measures aimed at improving competitiveness: reduction of the Income Tax from 35% to 25%, elimination of export duties, the possibility of crediting VAT during the stage prior to the start of activities, and access to international arbitration in the event of legal disputes.
Among the ten projects already approved, investments in energy, mining, steel, and infrastructure stand out, such as the "El Quemado" solar park of YPF in Mendoza (USD 211 million), the Vaca Muerta Sur oil pipeline with an initial investment of USD 2,486 million, the LNG project in Río Negro for USD 2,900 million, and the expansion of the Rincón de Litio project of Rio Tinto in Salta for USD 2,724 million.
