Argentina seeks to double investment in mining sector

The Argentina government is working on a bill to establish a federal mining agreement to harmonise all existing legislation across the different provinces and with the federal government.

After a year of intensive negotiations with the different provinces, the Argentine government is finalising details of a plan to relaunch mining nationwide. The government expects to begin the debate in congress on the 1st March, following the summer recess. However, it expects strong opposition to the agreement from environmental groups.

The goal of Macri’s government is to double investment in the mining sector to US$25bn in eight years, compared to the US$10bn invested in the 2007-15 period.

The move is aimed at providing tax stability to investors, avoiding conflicts with local governments and winning over the support of local communities for the mining industry, in the same fashion as the previous government did with the oil industry.

This post was written by Ignacio Paz, Partner, Madrid.

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