In this context, the official made a presentation in London on “Investment opportunities in Argentine mining” at the event of fastmarketswithin the framework of “London Metal Exchange Conference (LME) Week 2024”.
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Why should a mining company invest in Argentina?
The response was the axis of the presentation of Luis Lucero. According to the secretary, to make an investment decision it is necessary to know the “fundamental aspects” current events in Argentina, which support the proposal that investing in the country’s mining sector is a “right decision.”
“In reality, it is not just one factor, but the convergence of many that explains why a mining investor should trust in the potential that Argentina offers,” He explained to an audience interested in each of his words.
First of all, he highlighted “the vision shared by political leadership at both the federal and provincial levels that mining must be a pillar of economic recovery.”
Then, he assured that there is a “unprecedented favorable public opinion” towards the industry.
Thirdly, he highlighted “support for the industry of key national economic sectors.”
And finally, fourthly, he stressed “the existence of a new regime that eliminates certain barriers to investment”called Large Investment Incentive Regime (RIGI). “For its acronym in Spanish, which you may have heard or read about,” he told potential investors, from all over the world.
In this context, Lucero recalled that last year President Javier Milei “He was elected after a campaign in which he argued that inflation was a monetary phenomenon responsible for the extreme levels of poverty that the country had reached.”
“To combat it,” he continued, “(Milei) promoted a draconian plan to reduce the fiscal deficit to zero as the only way to success. Despite the efforts and sacrifices that such a plan implied, he won the elections and, to date, After 10 months in government, he has kept his promises: Inflation has been substantially reduced, the exchange rate against the US dollar has remained stable against all odds and, most importantly, his administration maintains an approval rating of almost 50%. “This underlines the idea that the country is experiencing a change in its political landscape.”
In summary, said the Secretary of Mining, Argentina “has a lot to offer in terms of resources and a remarkably free system to access copper and lithium mining concessions, unlike neighboring countries Chile and Bolivia.”
“The country is carrying out an important reform plan. Its population is supporting a drastic plan to control the fiscal deficit, despite the associated efforts for the majority of the population, and mining is perceived more favorably than ever before,” Lucero reaffirmed.
Finally, he thanked the country for its interest and assured that the Government hopes that “this interest will eventually translate into investments, jobs for our people and good returns for their companies.”
Source: Ambito
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