Governor Marcelo Orrego emphasizes Argentina’s potential for mining investments at PDAC 2025. He highlights the need for legal security and reforms while addressing obstacles like foreign exchange restrictions. San Juan is positioned as a leader in mining, with several significant projects on the horizon, demonstrating potential for economic growth and job creation.
Marcelo Orrego, the Governor of San Juan, is actively working in Canada to attract investments for the province’s metal mining projects. His agenda includes attending events, conferences, and visiting the Toronto Stock Exchange. He emphasized that Argentina, particularly San Juan, possesses the essential qualities to draw mining investments during his participation at PDAC 2025.
This marks Governor Orrego’s second participation in the PDAC convention, having previously showcased investment opportunities in March 2024. He highlighted San Juan’s potential to supply strategic minerals vital for the global energy transition, stating that the province offers legal security, fiscal stability, and a social license beneficial for mining projects. However, he identified foreign exchange restrictions as a significant challenge that still needs addressing.
Orrego’s mission aims to unite efforts with other mining province governors and promote the copper sector, which is pivotal on the international agenda. He underscored the necessity of attracting investments while providing clarity on issues like prospecting and exploration, noting that 57% of mining complexes in Argentina require exploration, many of which are located in San Juan.
The governor explained that despite Argentina’s economic challenges, reforms have been implemented, and San Juan has established conditions conducive for investment through the Mining Investment Law (RIGI). He stressed, “Argentina has absolutely everything to attract investment”—indicating the importance of aligning the country’s economic climate with international mining interests.
While discussing potential challenges to improving investment conditions, Orrego acknowledged the advancements made with RIGI at both national and provincial levels. He reaffirmed that, despite the need for gradual improvements, tackling foreign exchange restrictions remains a crucial issue for foreign investors considering San Juan.
Elaborating on Argentina’s mining potential, Orrego listed three main economic drivers: Vaca Muerta, agriculture, and mining. He emphasized that mining should be the leading sector, stating the world’s increasing demand for critical minerals necessitates an proactive approach. He expressed his support for Mendoza’s reentry into mining, highlighting the importance of societal commitments and collaboration with quality-driven mining companies.
Orrego acknowledged mining as a state policy for San Juan, which has nurtured this sector for over four decades, contributing significantly to local exports. He affirmed mining’s essential role in gold and lime production, noting the unique geographical advantages the province offers for mining industries.
The governor asserted that new investments in mining would improve living conditions for local communities and strengthen the economy, stating, “New projects and investments translate into better living conditions—not only for local communities but also for the broader economy.” Furthermore, mining is crucial in job creation and supplier network development, adding value to the local industry.
Several key projects in San Juan are poised for development, including the new entity Vicuña Corp., formed from the merger of Lundin Mining and BHP. This corporation will manage projects such as Josemaría and Filo del Sol, which has received Environmental Impact Assessment approval, and work on the necessary infrastructure is set to begin this year. The Los Azules project has also applied for the RIGI under a large investment incentive, showcasing investor confidence, while Gualcamayo has followed suit, reiterating San Juan’s strategic advantages in the global copper sector.
In summary, Governor Marcelo Orrego’s ongoing efforts to attract investments to San Juan’s mining sector are driven by the region’s vast potential and improving conditions. His focus on addressing key obstacles and emphasizing the importance of mining as an economic pillar reflects a commitment to sustainable development and economic growth. The future seems promising for silver opportunities and investment in San Juan’s mining landscape, as recent projects illustrate investor confidence and the province’s strategic significance in the energy transition.
Original Source: www.panorama-minero.com
