Argentina is experiencing a resurgence in its energy and mining sectors under President Javier Milei's administration, which is focused on economic reform and attracting investment. The Vaca Muerta shale basin, known for its light oil and low production costs, is emerging as a key driver for Milei's economic agenda, with the president seeking tangible results before 2027 to maintain political support and draw further investments. Concurrently, the government approved a new lithium mining project in Catamarca with an investment of $217 million and has incorporated six projects into the RIGI (Regimen de Incentivos para la Generación de Inversiones) totaling $12.8 billion in investments, while rejecting a Chinese mining company's application. In the nuclear energy sector, Milei's government announced the creation of YPF Nuclear, a subsidiary of the state oil company YPF, tasked with uranium mining in Patagonia for energy export. Additionally, Rio Tinto and Chile’s state-owned mining company ENAMI signed a binding agreement to form a joint venture for the Salares Altoandinos lithium project in Chile’s Atacama region, with Rio Tinto acquiring a 51% stake and committing up to $425 million, with the deal expected to close in the first half of 2026. These developments reflect a broader strategy by Milei’s administration to industrialize Argentina’s economy through resource development and foreign investment.
Gobierno de Milei anuncia la creación de ’YPF Nuclear’ para minar uranio en la Patagonia argentina https://t.co/gEldhCHCP7
🌎 @DF_Sud | China Ganfeng no entra al RIGI: Argentina rechaza ingreso de su proyecto de litio al esquema de incentivos de la era Milei https://t.co/90Q2bMZB5t
New lithium mining project in Catamarca approved by RIGI ⚡️The project will entail a US$217 million investment. A Chinese company's bid to expand a mining project in Salta was rejected ✍️ Sebastian D. Penelli https://t.co/iS7keuACju