TNR Gold Corp has announced that McEwen Copper is seeking admission for the Los Azules copper project under Argentina’s Large Investment Incentive Regime. The project’s estimated investment is USD 2.7 billion, aimed at securing tax reductions and incentives, thereby enhancing its financial feasibility. This initiative signifies Argentina’s renewed openness to major infrastructure investments, potentially boosting the mining sector.
TNR Gold Corp has recently provided an update regarding its involvement in the Los Azules copper project. McEwen Mining’s subsidiary, McEwen Copper Inc., has submitted an application for the project to qualify under Argentina’s Large Investment Incentive Regime (RIGI). This initiative involves an anticipated investment of USD 2.7 billion, aimed at obtaining tax benefits and various incentives that could significantly improve the project’s financial appeal to potential investors.
The move reflects Argentina’s renewed commitment to facilitating large-scale infrastructure investments, particularly in the mining sector. This increase in investment opportunities could yield favorable returns for all stakeholders involved. TNR Gold Corp primarily engages in the mining sector, focusing on net smelter returns royalties and holds a 0.4% NSR Royalty on the Los Azules copper, gold, and silver project located in San Juan, Argentina.
In conclusion, TNR Gold Corp’s update highlights the application submitted by McEwen Copper for the Los Azules project under Argentina’s Large Investment Incentive Regime. This significant investment could enhance the project’s financial viability and demonstrates Argentina’s readiness to support large infrastructure projects, which may ultimately benefit the mining sector and its investors.
Original Source: www.tipranks.com
