Governor Marcelo Orrego of San Juan seeks to attract mining investment during his participation in the PDAC convention in Canada. He emphasizes the province’s legal and fiscal stability while acknowledging challenges such as foreign exchange restrictions. San Juan is highlighted as a significant player in the mining sector, with new projects and strong investor confidence in the region’s potential.
Marcelo Orrego, the Governor of San Juan, is actively seeking investments in Canada to advance key mining projects. This trip marks his second appearance at the PDAC convention, where he previously showcased the province’s potential for supplying strategic minerals amid a global energy transition. He emphasized that Argentina, particularly San Juan, possesses “absolutely everything” needed to attract mining investment.
During the event, Orrego discussed the favorable conditions within San Juan’s mining sector, highlighting legal security, fiscal stability, and the social license that support mining operations. However, he acknowledged that foreign exchange restrictions remain a significant obstacle to foreign investment, stressing the need for gradual reforms to address this issue.
The objectives of San Juan’s participation in Toronto include collaboration with other mining provinces and presenting the importance of copper in the global market. Orrego highlighted that attracting investment also involves clarifying issues related to mining prospecting and exploration, essential for the 57% of Argentina’s mining complexes requiring exploration, many of which are located in San Juan.
Addressing Argentina’s economic challenges, Orrego reiterated the country’s reforms and the legal framework of the Mining Investment Law, known as RIGI, which has created favorable conditions for investments. The province aims to align its message with international interest in mining, presenting a united front on the potential for economic growth through the mining sector.
Orrego detailed Argentina’s mining potential, citing three primary drivers of economic growth: Vaca Muerta, agriculture, and mining. He endorsed Mendoza’s reentry into the mining sector, indicating that collaboration with mining companies can foster quality standards and societal commitments. He expressed hope for integrated development across provinces.
Emphasizing the long-term commitment of San Juan to mining as a state policy, Orrego pointed out that this sector accounts for 80% of the province’s exports. He noted that mining is crucial for local economies, job creation, and enhancing supplier networks, which are vital for adding industry value.
Several promising mining projects are on the horizon in San Juan, including the partnership between Lundin Mining and BHP that formed Vicuña Corp., which will advance the Josemaría and Filo del Sol projects. New applications for investment incentives, like RIGI, from the Los Azules and Gualcamayo projects show strong investor confidence, illustrating San Juan’s strategic advantage in a world increasingly dependent on copper for the energy transition.
Marcelo Orrego’s mission to Canada highlights San Juan’s readiness to attract investment in the mining sector. Despite challenges like foreign exchange restrictions, the province has legal and fiscal frameworks in place to foster growth. With significant mining projects moving forward, San Juan is poised to play a critical role in Argentina’s economic landscape and the global energy transition.
Original Source: www.panorama-minero.com
