The Milei Government approved the entry of the Vicuña mining megaproject in San Juan into the RIGI

The Government of Javier Milei announced the approval of the entry into the Incentive Regime for Large Investments (RIGI) of the copper project Vicuña, located in the province of San Juan.

The initiative, developed by the companies BHP and Lundin, is the largest mining project in the history of Argentina and positions itself as one of the five most significant copper developments globally.

Through his official account on X, the Minister of Economy, Luis "Toto" Caputo, reported: “The Evaluation Committee approved today the entry into the RIGI of the copper project Vicuña, in San Juan, developed by BHP and Lundin.”

In this regard, he detailed the magnitude of the planned investment: “With an initial investment of USD 9.7 billion —which could reach USD 18 billion according to the companies' estimates— this is the largest mining project in our history and one of the five largest copper projects in the world.”

The project contemplates a strong impact on the real economy, both in foreign currency generation and in employment. According to the minister, “this project will generate exports of over USD 2.6 billion per year and more than 30,000 direct and indirect jobs.”

Finally, Caputo summarized the scope of the initiative by stating: “More productive investment, more jobs, and more growth for Argentines.”

The success of Milei's RIGI

The announcement is part of the RIGI scheme promoted by Milei's Government, aimed at promoting large-scale investments through tax incentives.

According to official data, the regime has already accumulated investments of USD 29.892 billion, with a projected generation of 52,495 direct and indirect jobs.

Additionally, projects representing USD 111.037 billion in potential investments are under evaluation, with an estimated impact of 142,585 jobs between direct and indirect.

The incorporation of the Vicuña project reinforces the role of the mining sector within the strategy of productive expansion, in a context of growing global demand for copper and other resources related to the energy transition.

With this progress, the Government aims to consolidate a sustained flow of investments, foreign currency, increase exports, and strengthen formal job generation in various regions of the country.