RIGI: the Milei government approved a new mining project of 764 million dollars between Salta and Catamarca

The government management of Javier Milei has marked an unprecedented milestone in attracting foreign capital by formalizing the adherence to a new strategic project that reaffirms the resounding success of the RIGI. To date, the administration has received a total of 36 adherence requests totaling US$ 97 billion, of which 15 initiatives have already been approved, representing an injection of US$ 28.5 billion into the national economy.

In this context of commercial openness, the Ministry of Economy has greenlighted the mining development of Diablillos, an investment by the Canadian company AbraSilver Resource Corp that will inject US$ 764 million for the extraction of gold and silver on the border between Salta and Catamarca.

This decision, formalized through Resolution 562/2026 published in the Official Gazette, confirms that the project strictly meets the stability and predictability standards required by the libertarian model to protect investors.

The project, operated by the firm Pacific Rim —a subsidiary of AbraSilver and controlled since 2025 by Central Puerto through its company Proener— includes the construction of a processing plant with a capacity to treat 3,150,000 tons annually.

According to technical projections, the deposit has high-quality resources estimated at 166 million ounces of silver and 1.1 million ounces of gold.

In terms of socioeconomic impact, the initiative will generate 2,013 direct and indirect jobs, restoring the dignity of private work to the northern provinces. Additionally, an export potential of US$ 417 million is estimated, which will strengthen the reserves of the Central Bank without the need to issue counterfeit currency.

The investment schedule is also ambitious: the company will disburse US$ 98.5 million during the first year and US$ 253.9 million in the second, accumulating US$ 352.4 million in the initial biennium to meet the requirement of investing 40% of the total committed before November 30, 2027.

The infrastructure of Diablillos, which will begin construction in July 2026 and operate from July 2029, will integrate fifteen mining concessions in the departments of Los Andes (Salta) and Antofagasta de la Sierra (Catamarca).

The commitment to the local industry is total, as 55% of the investment in suppliers and works will be awarded to national companies, far exceeding the legal minimum of 20%.

In exchange, the company will enjoy tax and exchange benefits for 30 years, with zero tariffs on exports and the application of incentives by the Revenue and Customs Control Agency (ARCA).

Finally, the Minister of Economy, Luis Caputo, has doubled down with the announcement of the “Super RIGI”, an enhanced scheme aimed at attracting investments of up to US$ 30 billion in cutting-edge sectors such as lithium batteries, electric cars, and solar panels.

Caputo emphasized that this new regime will offer a Corporate Tax rate of just 15%. With these measures, the government of Javier Milei assures that “this new RIGI can make a company decide on an investment of US$ 20 billion or US$ 30 billion in favor of Argentina”, consolidating the country as the most competitive destination in the region.