McEwen Copper has requested major tax incentives from the Argentine government for its Los Azules copper project, proposing a total investment of $2.7 billion. Under the proposed regime, the corporate tax rate would decrease from 35% to 25%, enhancing the project’s viability. Construction could commence in early 2026, pending regulatory approvals.
McEwen Copper, part of McEwen Mining, has formally requested involvement in an Argentine government incentives program aimed at granting substantial tax reductions for its Los Azules copper mining project in San Juan province. This initiative aligns with McEwen’s strategy to invest $2.7 billion into developing the mine, leveraging a commitment of $227 million under the Argentine government’s Large Investment Incentive Regime (RIGI) to conduct feasibility studies and preparatory work.
McEwen Copper’s strategic push for tax breaks under RIGI could crucially enhance the feasibility of the Los Azules project. The planned $2.7 billion investment underscores Argentina’s significant mineral potential amid a global surge in copper demand linked to energy transitions. Successful approval of the incentive program may reinvigorate copper production in Argentina, which has seen a downturn since 2018.
Original Source: www.mining.com
