The Government of Javier Milei has approved the Los Azules copper mining project, owned by Canadian company McEwen Copper, with an estimated investment of 2.7 billion dollars under the Regime of Incentives for Large Investments (RIGI).
According to the Minister of Economy, Luis "Toto" Caputo, this Friday, the initiative will generate annual exports of 1.1 billion dollars and will employ more than 3,500 people directly and indirectly.
The Los Azules deposit, located in the province of San Juan, is considered one of the eight world-class projects in the country. Argentina has not produced copper since 2018, after the closure of the Alumbrera mine, so this development seeks to take advantage of the growing global demand linked to the energy transition.
"This is the first copper mining project called Los Azules, in the province of San Juan. The total investment is USD 2.7 billion. The project will employ more than 3,500 people directly and indirectly," Caputo highlighted on his X account.
