Minas Argentinas S.A., a company that is part of Aisa Group, announced that the National Government formally approved the plan presented under the Large Investment Incentive Regime (RIGI), consolidating the start of an ambitious project that will transform the Gualcamayo mine into a productive hub with a projection of three decades. With this approval, the company takes a decisive step in its commitment to contribute to the revitalization of mining in San Juan, promoting employment, community development, and new opportunities for the Argentine economy.

 The approved plan encompasses an initial investment of more than USD 650 million, strategically adjusted from the original proposal to expedite approval and accelerate implementation timelines. This project includes the development of the Deep Carbonates Project (DCP), a deposit that contains more than 5 million ounces of gold, 3 million of which have already been categorized as Reserves. It is anticipated that, gradually, the construction phase will generate between 1,000 and 1,500 jobs (a phase estimated to begin in 2027) and that, once operations begin, around 600 additional permanent jobs will be consolidated on top of the current 250. The new Gualcamayo mine is expected to start producing from 2029.

 In addition to the new underground mine and mineral processing plant, which will include a POX plant, the seventh in the world, the project includes investments in key infrastructure to ensure modern and responsible operations. Among these, the construction of a 50 MW photovoltaic park stands out, which will supply the mine's energy needs and significantly reduce the carbon footprint.

 The approval of the RIGI for Minas Argentinas represents a paradigm shift for Gualcamayo, which just two years ago was in the process of closure. With the arrival of Aisa Group in 2023, the closure plan was suspended, debts with suppliers were regularized, resources and reserves were recategorized, and exploration work was resumed, allowing for the delineation of a long-term plan. Today, Gualcamayo is positioned as an example of modern and sustainable mining, with the capacity to provide stability and growth to the entire region.

 Juan José Retamero, head of Aisa Group, stated in recent remarks: “We believe that the RIGI will be a robust instrument that provides long-term predictability and legal security. With clear rules, Argentina can lead the production of strategic minerals. Our goal in Gualcamayo is to produce 3 million ounces of gold over the next 30 years, generating quality employment, strengthening local suppliers, and contributing to the national economy.”

 Ricardo Martínez, Executive Director of Minas Argentinas, added: “The approval of the RIGI validates the seriousness and commitment of our proposal. This project will not only transform the mine but will also create an ecosystem of socially, productively, and environmentally responsible development. We want Gualcamayo to be a case study of how genuine investment, accompanied by clear rules, can drive a virtuous cycle of growth.”

 Throughout its history, the Gualcamayo mine has contributed more than 33 million dollars to the Jáchal Trust Fund, 66 million dollars in royalties, and hundreds of social, sports, and productive projects for the community. With this new plan, the goal is to expand that impact, prioritizing the hiring of local personnel, the development of supplier SMEs, and working together with universities, NGOs, and local governments to foster technical skills and opportunities for future generations.

 With the approval of this first plan under the RIGI, Minas Argentinas and Aisa Group will focus their efforts on ensuring efficient implementation of the project and consolidating the foundations for long-term productive development. The company will prioritize the startup of Deep Carbonates, the execution of energy infrastructure works, and strengthening the local value chain, ensuring lasting benefits for San Juan and the country. “This is just the beginning of a long-term journey. We believe in responsible mining that is done with the communities and for the development of the entire country,” concluded Martínez.