Vicuña mining project approved for RIGI incentives in Argentina

Argentina's Ministry of Economy has approved the Vicuña Project's inclusion in the Regime for Incentives for Large Investments (RIGI). The project focuses on the extraction, production, and export of copper, gold, and silver from the Josemaría and Filo del Sol deposits located in the San Juan province.

The total investment for the project is estimated at approximately USD 9.74 billion, with USD 9.02 billion allocated to computable assets. This investment is planned to be executed in two stages. Under the regulatory framework, the project must demonstrate that it has completed an investment in computable assets equal to or greater than 20% of the minimum investment amount during its first two years. The deadline for meeting the minimum investment requirement is December 31, 2028.

Additionally, the Ministry has authorized an expansion of customs benefits for the company. Resolution 81/2026 allows Vicuña to include 66 tariff positions—comprising 59 for capital goods and 7 for information technology and telecommunications supplies—to support the development of the mining sites. The Agency for Collection and Customs Control (ARCA) has been tasked with implementing the corresponding tax and customs incentives.