LatinNews Daily - 29 September 2025

*Argentia’s Economy Minister Luis Caputo has announced that the evaluation committee of the government’s incentive for large investments scheme (Rigi) has approved a new project for a copper mine. In a post on social media, Caputo stated that the project is called Los Azules and is located in the province of San Juan. Caputo said the project would provide more than 3,500 direct and indirect jobs and would generate exports worth US$1.1bn a year. The project is run by McEwen Copper, a subsidiary of Canadian mining firm McEwen Mining. In a statement, McEwen said that the project’s inclusion in the Rigi encompasses an investment of US$2.67bn which will consolidate the exploration, construction, and operational stages of the copper mining development project under a single plan. This is the eighth project approved under the Rigi scheme, which has seen a total investment of around US$15.7bn. Key benefits of the Rigi include legal certainty, including dispute resolution mechanisms and safeguards against regulatory changes, and tax incentives including the application of the 25% lowest tax bracket for companies (down from the general 35%), a 50% reduction in the dividend withholding tax, accelerated depreciation for new capital investments, early value-added tax (VAT) recovery, and long-term tax stability.

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