Argentina's Régimen de Incentivo para Grandes Inversiones (RIGI) has approved two new mining projects that will see a total investment of $1.14 billion. The approved projects include an expansion of the Veladero gold mine, which will require an investment of $380 million, and the Diablillos project, which aims to establish a new gold and silver mine with an investment of $760 million. This brings the total number of initiatives under RIGI to 12, with collective investments exceeding $26 billion.

The announcement was made by Economy Minister Luis Caputo via a post on social media, highlighting the government's push to attract foreign investment in the mining sector. This growth is part of Argentina's broader strategy to exploit its natural resources to boost economic development, an approach that has garnered both support and opposition from different segments of society, particularly concerning environmental and social implications.

As the government continues to promote these ventures, the RIGI program is likely to enhance Argentina's position in the global mining industry, especially in valuable minerals like gold and silver. However, the approval of these projects also raises questions about sustainable practices and the long-term impact on local communities, which may face land use pressures and changes in their economic dynamics due to increased mining activity.