AISA Group will present a second RIGI for USD 1.5 billion to expand Gualcamayo

The Canadian mining company AISA Group announced that it will present a second project under the Large Investment Incentive Regime (RIGI), with an estimated investment of USD 1.5 billion, aimed at expanding the development of the Gualcamayo mining district in the province of San Juan. The initiative seeks to transform the deposit into a long-term exploration and production platform, consolidating Argentina as one of the most attractive destinations for mining investment.

The announcement was made by the CEO and founder of the group, Juan José Retamero, during the meeting that President Javier Milei held with entrepreneurs and investors in Madrid, organized by the Argentine Embassy in Spain. The decision represents a new show of confidence from the international private sector in the economic direction promoted by the national Government and in the tools offered by the RIGI to attract large investments.

AISA Group will expand Gualcamayo with a second project under the RIGI

The new program, called G50, will complement the Deep Carbonates project, which has already received RIGI approval and involves an investment of USD 665 million.

This first development projects exports of USD 26.5 billion between 2030 and 2055, becoming one of the most important gold ventures in the country.

Now, the second RIGI aims to take the development of the district to a higher scale through an ambitious exploration program, reserve replenishment, and production expansion.

The goal is to turn Gualcamayo into a long-term mining district

According to the company, the G50 Program includes an intensive exploration strategy over 38,000 hectares of mining concessions, incorporating new areas with gold potential and other industrial minerals.

In the first phase, the plan aims to accelerate the incorporation of new resources over the next 24 to 36 months to extend the operational life.

The head of the mining area at AISA Group, Nicolás Bareta, explained that the goal is to think of "Gualcamayo as a district and not just as a mine", integrating Deep Carbonates, new exploration areas, and future developments.

"Argentina needs projects that replenish reserves, generate foreign currency, and sustain employment for decades. That is the strategic sense of the G50 Program", he stated.

The company highlights the new climate for investing in Argentina

The first project approved under the RIGI allowed progress on the development of Deep Carbonates, an important mineralized body located beneath the former productive areas of Gualcamayo.

Currently, the complex has 7.1 million ounces of gold in resources and 4.9 million ounces in reserves, certified under international standards NI 43-101 and JORC Code.

The general manager of Minas Argentinas, Gabriel Corvo, stated that "Gualcamayo has ceased to be a declining operation to become a mining district with a future", highlighting that the new project will allow for reserve expansion, increased exploration, and the generation of new employment opportunities for San Juan.

Retamero highlighted the impact of the RIGI and the economic change driven by Milei

During his presentation, Juan José Retamero linked the new investment to the macroeconomic conditions generated since the arrival of the current Government.