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Argentina’s RIGI Draws About $78 Billion in Big-Project Pledges

The incentive regime signals a push to turn copper and lithium reserves into export growth.

Overview

  • Investment commitments tied to the large-project regime now total roughly US$78 billion, with about US$17.6 billion approved, nearly US$46 billion in process, and another US$14 billion announced but not yet filed.
  • RIGI targets projects of at least US$200 million and offers 30 years of stable rules, tax and customs relief, free access to earned dollars, and the option to use international arbitration if rules change.
  • Early builds include the Southern Energy liquefied natural gas project at US$6.878 billion, which plans two floating units in Río Negro with US$2.8 billion to be spent through 2027.
  • Oil export capacity is set to expand through the Vaca Muerta Oil Sur pipeline at about US$2.9 billion, and sector leaders say each day of delay costs roughly US$45 million in lost foreign currency.
  • Mining drives most proposals, led by lithium at Rincón (US$2.744 billion) and copper at Los Azules (US$2.672 billion), Vicuña (US$18 billion), Pachón (US$9.5 billion), and MARA (US$3.8 billion), though several still lack final permits or financing and local industry and jobs have not yet grown.