Argentina’s President Javier Milei is scrambling to unlock the South American country’s copper potential, seeking to capitalize on surging global demand amid a push toward electrification and renewable energy.
Milei, a self-described anarcho capitalist who won a shock election in 2023, has unveiled a series of tough reformist measures in an effort to stabilize the traditionally volatile economy and “Make Argentina Great Again.”
As part of this push, Milei’s administration hopes the mining sector can play a key role, particularly in regard to copper and lithium.
One of the libertarian president’s flagship policies has been to introduce the Large Investment Incentive Regime, or RIGI, a scheme designed to provide generous tax, trade and foreign exchange benefits to large-scale investors over a 30-year period.
To date, 20 projects worth just over $30 billion have sought entry into Argentina’s RIGI, according to global risk intelligence firm Verisk Maplecroft, three-quarters of which are in mining. Copper alone is estimated to represent $16 billion, more than all non-mining sectors combined.
