Governor Marcelo Orrego of San Juan is advocating for investment in the province’s metal mining projects during his visit to Canada. He emphasizes that Argentina, particularly San Juan, possesses all the necessary conditions for attracting mining investment, while also addressing obstacles such as foreign exchange restrictions. Orrego highlights the importance of mining in the provincial economy and discusses future projects that could significantly impact the region’s development.
Marcelo Orrego, the Governor of San Juan, is spearheading efforts in Canada to secure investments for major metal mining projects in his province. An active participant in events and conferences during his trip, he also holds plans to visit the Toronto Stock Exchange to promote San Juan’s mining potential, which he asserts has “absolutely everything” needed to attract investment.
This marks Governor Orrego’s second attendance at the PDAC convention, following his initial participation in March 2024, when he showcased the investment opportunities available in San Juan. He emphasized the province’s crucial role in supplying strategic minerals to support global energy transition initiatives.
At the conference, Orrego highlighted the attributes—legal security, fiscal stability, and social license—that bolster investment in mining projects. Nevertheless, he noted that challenges remain, particularly due to foreign exchange restrictions, which must be progressively addressed.
Orrego outlined the objectives of his mission in Toronto, focusing on collaboration among mining province governors and enhancing the sector’s value as President of the Copper Roundtable. He remarked that attracting investment is critical, but equally important is addressing issues surrounding prospecting and exploration in the region.
He delivered a clear message to investors regarding Argentina’s economy and outlined the reforms that are currently in place. Orrego affirmed, “I firmly believe Argentina has absolutely everything to attract investment,” highlighting the legal and fiscal conditions provided by the RIGI framework.
He acknowledged that challenges related to foreign exchange restrictions must be overcome to improve investment conditions. He affirmed that the recent reforms at both national and provincial levels have enhanced fiscal stability, indicating a positive trajectory for future mining endeavors.
Discussing Argentina’s mining potential, Orrego identified three main drivers of economic growth: Vaca Muerta, agriculture, and mining, with mining being particularly vital. He expressed enthusiasm for Mendoza’s reentry into the mining sector, emphasizing the need for collaborative efforts with society and high-quality mining practices.
Orrego stated that mining is a state policy in San Juan supported by a long history of development in the industry, which contributes significantly to the province’s exports. Investments in mining are crucial for enhancing living conditions and job creation, ultimately benefiting the broader economy.
Regarding future mining projects, he mentioned the recent merger between Lundin Mining and BHP to form Vicuña Corp., which includes two key projects: Josemaría and Filo del Sol. The projects have gained the necessary Environmental Impact Assessment approval, paving the way for construction to start this year.
In summary, Governor Marcelo Orrego’s mission to Canada aims to enhance investments in San Juan’s mining sector, which is integral to the province’s economy. He stresses the importance of legal security, fiscal stability, and delivering a clear message regarding Argentina’s mining potential. The discussions underline the necessity of addressing foreign exchange challenges while promoting investment opportunities, emphasizing that mining will continue to be a pivotal driver of economic growth in Argentina.
Original Source: www.panorama-minero.com
