Argentina showcased its investment potential at an event in Toronto, with key government officials outlining transformative economic policies and mining opportunities. Secretary General Karina Milei emphasized a new era for investment following the RIGI law. Provincial leaders reinforced the mining sector’s strategic importance, while private sector representatives expressed confidence in Argentina’s economic future amidst necessary reforms for stability.
Argentina recently took center stage for global investment at an event in Toronto, led by government officials including Secretary General of the Presidency Karina Milei, Secretary of Finance Pablo Quirno, and Secretary of Mining Luis Lucero. Both Argentina’s Ambassador to Canada, Josefina Martínez Gramuglia, and Canada’s Ambassador to Argentina, Stewart Wheeler participated in the event, signaling robust diplomatic engagement.
The day began with remarks from Ambassador Martínez Gramuglia, who, along with Ambassador Wheeler, highlighted the necessity of responsible mining practices for economic stability. In her rare public address, Karina Milei thanked key stakeholders and emphasized Argentina’s promising economic transformation, stating, “There is a new era in Argentina—there is a before and after.”
Milei pointed out the RIGI law as a significant milestone for investor confidence, providing legal certainty amidst historical challenges. Pablo Quirno elaborated on the economic conditions faced upon the new administration’s arrival in December 2023, detailing how addressing the fiscal deficit was vital for restoring credibility and attracting private investments that continue to grow.
Quirno stated, “For decades, Argentina attempted to control inflation with price caps … But it never addressed the real issue: the fiscal deficit.” His efforts, along with an immediate reduction in GDP fiscal deficit, have led to sustained surpluses and markedly lower inflation rates, generating renewed interest in foreign investment.
Secretary Lucero highlighted Argentina’s substantial mining resources, particularly lithium and copper, and the favorable investment environment created by recent reforms. He noted, “The impact of RIGI is clear … making us more competitive than Chile and Peru.” He also highlighted the unprecedented political consensus around the mining sector as a key driver for economic development.
At the provincial level, various leaders forecasted the potential of their regions. San Juan’s Governor Marcelo Orrego underscored copper’s strategic significance, while Mendoza’s Governor Alfredo Cornejo pointed to streamlined permitting processes. Likewise, La Rioja and Jujuy governors focused on the importance of partnerships and clear regulatory frameworks in encouraging mining investments.
Privately, investment leaders such as Barrick’s CEO Mark Bristow spoke of thriving operations in Argentina, emphasizing the need for continued investment amidst the evolving economic landscape. Australian Gold’s Eduardo Elsztain echoed this sentiment, advocating for the critical importance of stability to foster development.
The participation of Argentina at PDAC 2025 was geared towards reinforcing its position as a premier mining investment destination. Despite the expressed commitment from leaders, concerns linger regarding the sustainability of these economic reforms against Argentina’s historical backdrop of volatility. A major global investor remarked, “Argentina must reinforce the message of maintaining stability and avoiding cyclical trust erosion,” urging that reform efforts must transcend individual political administrations.
In conclusion, Argentina’s recent engagement in Toronto showcased a concerted effort to attract global investment, particularly in the mining sector. With key officials underscoring the importance of legal certainty and fiscal reform, coupled with renewed political support, the country appears poised for growth. However, sustaining this positive environment remains essential to avoid past economic pitfalls, reaffirming the need for continuous commitment to stability and responsible practices.
Original Source: www.panorama-minero.com
