Overview
- BHP and Lundin, through Vicuña Argentina, applied to the RIGI for the copper‑gold‑silver Vicuña project that combines the Josemaría and Filo del Sol deposits in San Juan.
- Economy Minister Luis Caputo hailed the plan as potentially the country’s largest mining FDI, with investments under the regime to be executed within Argentina.
- Vicuña’s application under the PEELP category commits at least $2 billion in the first two years after approval, with an integrated technical report due in Q1 2026 to define total capex beyond indicative figures above $15 billion.
- The government is evaluating adding unconventional upstream oil and gas to the RIGI after Neuquén’s governor requested it, and Energy and Mining coordinator Daniel González said officials were instructed to find a path to include upstream.
- Officials are also pursuing clarifications to the Glaciers Law to expedite large mining projects as environmental groups voice opposition, and existing energy infrastructure such as Vaca Muerta Sur and LNG shipping projects already operate under RIGI terms.