Marcelo Orrego at PDAC 2025: Argentina’s Appeal for Mining Investment

Marcelo Orrego, Governor of San Juan, is actively seeking mining investments in Canada, showcasing the province’s potential. He emphasizes the importance of legal security and fiscal stability while addressing foreign exchange restrictions as a barrier to investment. San Juan aims to play a pivotal role in the critical minerals market amid global energy transitions, with several mining projects set to advance in the region.

Marcelo Orrego, the Governor of San Juan, is actively pursuing investment opportunities in Canada, focusing on the province’s significant metal mining projects. His agenda includes participation in various events, conferences, and a visit to the Toronto Stock Exchange to showcase San Juan’s potential for attracting mining investments. Orrego highlights that Argentina, particularly San Juan, possesses the necessary attributes for successful investment in mining ventures.

This convention marks Orrego’s second attendance as governor, following his first participation in March 2024 where he touted the province’s capability to supply critical minerals amid global energy transitions. He emphasized the importance of legal security, fiscal stability, and social licensing in fostering an attractive mining environment. Nevertheless, he identified foreign exchange restrictions as a significant hurdle that still needs addressing as Argentina works on gradual reforms.

Orrego outlined the objectives of San Juan’s mission in Toronto, mentioning collaborative efforts with other mining provinces to enhance the sector’s value, especially copper, which is vital in the global market. While attracting investment is a primary focus, he aims to improve clarity surrounding mining issues such as exploration, with a notable 57% of Argentina’s mining complexes currently requiring exploration initiatives.

In addressing investors, Orrego asserted that Argentina must be transparent about its economic situation. He remains confident that with the reforms implemented, Argentina boasts a good environment for investments, including the legal and fiscal frameworks established under the Mining Investment Law, which align with the global interests in mining development.

Challenges to investment conditions remain, particularly concerning foreign exchange restrictions. Revisions to the RIGI at both national and provincial levels have occurred, ensuring fiscal stability, but gradual improvements are still necessary. These ongoing developments reflect a commitment to fostering a conducive mining environment.

Orrego identified three pillars for Argentina’s economic growth: Vaca Muerta, Agriculture, and Mining. He believes mining must lead this growth, given the rising global need for critical minerals beyond traditional metals. He also expressed hope for Mendoza’s reentry into the mining sector as an opportunity to leverage its resources effectively.

Mining is regarded as a state policy in San Juan, having been developed for over four decades, with the sector contributing to approximately 80% of provincial exports. Orrego reiterated the crucial role of mining in San Juan’s economy, particularly in gold and lime production, while also committing to diversify the economy without undermining the importance of mining.

He noted that new investments would lead to improved living conditions for locals and extend benefits to the broader economy. Additionally, investments in mining are pivotal for job creation, retention, and strengthening local supply networks essential for adding value to the industry.

Orrego also mentioned specific mining projects poised for advancement, including the Vicuña Corp. that emerged from the merger of Lundin Mining and BHP, which has received environmental approval to begin construction. The Los Azules project is also progressing under the RIGI, reflecting strong investor confidence, alongside Gualcamayo’s application for support under the same regime. Notably, six of Argentina’s ten copper projects are in San Juan, underscoring its strategic role in the global energy transition.

In summary, Governor Marcelo Orrego’s participation in PDAC 2025 underscores San Juan’s commitment to attracting mining investments through legal security, fiscal stability, and a clear vision for engaging international interests. Despite existing challenges such as foreign exchange restrictions, the province’s strategic resources and ongoing reforms align with global demands for critical minerals, enhancing its appeal to investors. San Juan aims to establish itself as a leading player in the mining sector, fostering economic growth and community prosperity through sustainable development.

Original Source: www.panorama-minero.com