What's Happening?
Vicuña Corp., a joint operation partially owned by Lundin Mining Corporation, has applied for the Incentive Regime for Large Investments (RIGI) under the Long-Term Strategic Export Projects designation (PEELP) in Argentina. This application pertains to
the Josemaria and Filo del Sol deposits, collectively known as the Vicuña Project. The RIGI regime is designed to attract large-scale investments by offering long-term fiscal stability and transparent regulatory conditions. The Vicuña Project is poised to become one of the largest foreign investment projects in Argentina, focusing on copper, gold, and silver resources. An integrated technical report detailing the project's economic benefits is expected in early 2026.
Why It's Important?
The Vicuña Project represents a significant potential boost to Argentina's economy by attracting foreign investment and enhancing the country's mining sector. The RIGI framework offers benefits such as lower corporate taxes, removal of export duties, and revenue repatriation, which could make the project economically viable and attractive to investors. This initiative aligns with Argentina's goals to stimulate economic growth through strategic investments. For Lundin Mining and its partner BHP, the project offers an opportunity to capitalize on one of the world's largest copper, gold, and silver resources, potentially leading to substantial economic returns and increased market presence.
What's Next?
The next steps involve the completion of the integrated technical report in the first quarter of 2026, which will outline the project's economic benefits and development plans. Approval of the RIGI PEELP application will be crucial for the project's advancement. Stakeholders, including the Argentinian government and local communities, will likely play a role in the project's progression. The successful implementation of the Vicuña Project could set a precedent for future large-scale mining investments in Argentina, potentially influencing regulatory and economic policies.
