The Governor of San Juan is pursuing an active agenda in Canada, aiming to secure investments and ensure progress in the province’s main metal mining projects. He will participate in events, dinners, and conferences and will also visit the Toronto Stock Exchange.
By Panorama Minero
Marcelo Orrego shared details of his trip to Canada with Panorama Minero, emphasizing that Argentina—and San Juan in particular—has “absolutely everything” to attract mining investment.
This marks Orrego’s second participation in the convention as governor. During his first visit in March 2024, he presented investment opportunities in the province, highlighting its potential in supplying strategic minerals amid the global energy transition.
This year, with San Juan positioned as the leading mining province, Orrego underscored the legal security, fiscal stability, and social license that characterize mining projects today. However, he pointed out that a key obstacle remains:
“The country has introduced reforms, and of course, the process must be gradual, but over time, we need to remove the hurdle of foreign exchange restrictions,” the governor stressed.
What are the objectives of San Juan’s official mission in Toronto?
We are working closely with all mining province governors, and as President of the Copper Roundtable, one of our main goals is to enhance the value of this sector. Copper is playing a central role on the international agenda today.
Attending PDAC is, of course, about attracting investment, but even more importantly, it’s about bringing clarity to issues like prospecting and exploration. Currently, 57% of all mining complexes in Argentina require exploration, and many of them are in San Juan.
This is a highly significant figure, and we will continue working towards the prosperity of mining, which is such a vital industry.
What message will the province deliver to investors?
We need to be very clear: when discussing mining, we cannot overlook Argentina’s economic situation.
The country has implemented reforms, but I firmly believe Argentina has absolutely everything to attract investment. We have legal security and fiscal stability through RIGI, which has improved upon the Mining Investment Law, creating the right conditions for investment to flow into Argentina and San Juan.
That is the message we are bringing: the country’s current moment and how it aligns with international interest in mining development.
What challenges remain in improving investment conditions?
Revisions have been made to RIGI at the national level, and we have done our part in San Juan as well. The provincial legislature and the municipalities where mining activities take place have endorsed RIGI.
Today, there is fiscal stability, and while gradual improvements are necessary, the eventual removal of foreign exchange restrictions remains a key issue.
What is Argentina’s mining potential, and what are your thoughts on Mendoza’s reentry into the sector?
Argentina has three fundamental drivers of economic growth:
- Vaca Muerta
- Agriculture
- Mining
These are the three pillars for San Juan, but mining must always be the locomotive. More than ever, the world needs critical minerals, beyond just traditional metals. This is a concept we must embrace and actively work on.
Mendoza also has a great opportunity by fostering commitments with society and collaborating with mining companies that operate at the highest quality standards.
“I would love to see Mendoza fully integrated into Argentina’s vast mining potential.”
How would new investments impact San Juan?
For us, mining is a state policy. We have been developing this industry for over 40 years. Regardless of future administrations, San Juan strongly supports mining, as it accounts for 80% of our exports.
The sector plays a crucial role, particularly in gold and lime production. Given that 83% of our territory consists of mountainous terrain, mining is essential.
We are committed to diversifying our economy and expanding our productive base, but we cannot ignore mining’s significance for the province.
“New projects and investments translate into better living conditions—not only for local communities but also for the broader economy.”
Additionally, mining is key to job creation and retention, as well as strengthening supplier networks, which are vital for adding value to the industry.
Which mining projects could begin operations in San Juan?
Last year, the merger between Lundin Mining and BHP led to the creation of Vicuña Corp., a new company encompassing two projects:
- Josemaría
- Filo del Sol
This is highly significant, as the company has obtained Environmental Impact Assessment (DIA) approval, and construction on the access road will commence this year.
The Los Azules project has submitted its application for the Large Investment Incentive Regime (RIGI) for US$227 million—an important milestone that demonstrates investor confidence.
Similarly, Gualcamayo has also applied to RIGI.
Ultimately, out of Argentina’s ten copper projects, six are located in San Juan. This is a strategic advantage for the global energy transition, where the copper sector will play a critical role.
