In a significant development for Argentina's mining sector, President Javier Milei welcomed Ron Hochstein, the CEO of Vicuña Corp., at the Casa Rosada to discuss a colossal investment of US$ 18 billion in a mining project located in San Juan. The investment will proceed in phases, with up to US$ 7 billion allocated during the first phase until 2030. This meeting included notable figures such as the company's country director, José Morea, and officials from Milei's administration, indicating the government's strong support for foreign investment in the region.

The announcement of this investment comes in the context of Argentina's efforts to attract large-scale investments, particularly in the mining industry, which has been long viewed as a cornerstone for economic growth. The decision from Vicuña Corp. to commit such a large sum was attributed to the “predictability, stability, and legal security” framework provided by Argentina's Incentive Regime for Large Investments (RIGI). This new set of regulations aims to create a more favorable environment for foreign investors, which has been critical in making projects of this magnitude feasible in the country.

Furthermore, Vicuña Corp., which is primarily owned by international corporations BHP and Lundin Mining, underscores the importance of international partnerships in realizing Argentina's mining potential. The planned investment is expected to not only boost the local economy in San Juan through job creation and infrastructure development but also enhance Argentina's position in the global mining sector, potentially leading to more investments in the future. The government's proactive stance in this meeting reflects its commitment to revitalizing the economy through foreign participation in key industries such as mining.