RIGI: Seven projects have been approved for RIGI, totaling over US$13 billion from local and foreign capital. Three operate in the energy sector, two are engaged in lithium mining, and one is part of the steel industry.
1. Projects that have received approval
– Southern Energy, a collaboration involving Pan American Energy (PAE), YPF, Pampa Energía, Harbour Energy, and Golar LNG, has an investment estimated at US$6.878 billion for the shipping and exporting of liquefied natural gas (LNG) from Río Negro.
– Rincon Mining, a subsidiary of Rio Tinto, has allocated US$2.724 billion for the development of a lithium carbonate plant in Salar del Rincón, Salta.
– VMOS S.A.: Nearly US$2.586 billion for the Oleoducto Sur de Vaca Muerta, a 437-kilometre oil pipeline from Añelo (Neuquén) to Punta Colorada (Río Negro), including six storage tanks and a maritime terminal for crude oil exports.
– Sidersa: US$296 million allocated for the construction of a new steel plant in San Nicolás, Buenos Aires Province.
– YPF Luz: US$211 million for the establishment of a 305-megawatt photovoltaic solar farm in Las Heras, Mendoza.
– Galan Lithium: Recently announced a total of US$217 million for lithium chloride production in Salar del Hombre Muerto, Catamarca.
– Generación Eléctrica Argentina Renovable (GEAR 1 S.A.): Establishment of a wind farm in Olavarría, Buenos Aires Province, at a cost of US$255 million.
2. RIGI: Projects pending review > According to the RIGI Observatory’s survey, 11 projects remain in the files of the RIGI evaluation council, pending approval or rejection.
– Minas Argentinas SA: Gualcamayo project for gold mining in San Juan, valued at US$700 million.
– Posco Argentina SA: Sal de Oro project for lithium mining in Salta, valued at US$633 million.
– Andes Corporación Minera SA: Los Azules project for mining copper in San Juan, valued at US$227 million.
– Galaxy Lithium: Sal de Vida project aims to mine lithium in Catamarca with an investment of US$638 million.
– Vientos La Rinconada PE: The La Rinconada project is set to invest US$206 million in the electricity sector in Buenos Aires Province.
– Terminal Timbués SA: project for the construction of infrastructure at the port of Timbués in Santa Fe Province for US$290 million.
– Pampa Energía: Rincón de Aranda project for a processing plant for oil and gas in Neuquén, costing US$426 million.
– Santa Fe Bio: A US$400-million project aimed at establishing a refinery in San Lorenzo, Santa Fe Province, within the biofuels sector.
– Barrick and Shandong Gold: Veladero project for gold mining in San Juan, US$400 million.
– Glencore: The Minería Agua Rica (MARA) project aims to mine copper in Catamarca, with an investment of US$4 billion.
– Glencore: The El Pachón project aims to mine copper in San Juan, with an investment of US$9.5 billion.
3. RIGI: The project that was turned down > The sole initiative to be declined was the Mariana lithium project proposed by the Ganfeng enterprise for approximately US$273 million. Economy Minister Luis Caputo announced his rejection on social media.