Argentina approves 2026 budget for Río Turbio coal mine as sales target remains unmet

The Argentine Ministry of Economy approved the 2026 Action Plan and Budget for the state‑owned Yacimiento Carbonífero de Río Turbio (YCRT) and its port services, formalised by Resolution 1233/2026. The plan projects operating revenues of roughly $342.6 million against operating costs of $128.1 million, indicating an operating loss of about $127.8 million. However, state transfers of $135.3 million turn the overall result into a net surplus of around $7.2 million, with $400 million allocated for capital resources and no capital spending planned for the year.

Interventor Pablo Gordillo told the program El Mediador that, despite the budget approval, YCRT has not yet fulfilled its key commitment to sell coal. The company signed a contract for more than 210,000 tonnes of coal (seven shipments) but has been unable to move the product due to logistical problems with aging locomotives and converters. Gordillo mentioned efforts to obtain financing for new locomotives from China, negotiations with Czech firm Ferrit, and repairs by an Argentine workshop. YCRT currently has over 20,000 tonnes of coal stockpiled in Río Turbio, and it is evaluating a US‑based $120 million investment proposal.