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1h ago

Argentina Approves $2.7 Billion Los Azules Copper Mine Under RIGI

The approval lifts the RIGI roster to eight projects, signaling a push for jobs plus export revenue.

Los Azules prevé una inversión consolidada de u$s2.672 millones para su desarrollo completo, desde la exploración hasta operación.
Campamento del proyecto Los Azules en San Juan
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Overview

  • Economy Minister Luis Caputo said the RIGI Evaluator Committee cleared Los Azules, the first copper mining project admitted under the regime.
  • The plan calls for US$2.7 billion in investment, more than 3,500 direct and indirect jobs, and roughly US$1.1 billion in annual exports.
  • With this decision, eight projects have RIGI approval, representing about US$15.7 billion in committed investment.
  • Developer Andes Corporación Minera, a McEwen Copper subsidiary, targets 2029 for startup with a 30‑year life and output near 160,000 tonnes of refined copper per year.
  • Located in San Juan’s Calingasta near the Chile border at about 3,500 meters elevation, the project is presented by the company as a lower‑water, low‑carbon operation powered by 100% renewables with a 2038 carbon‑neutral goal.