The joint operators of Argentina’s Veladero gold mine, Barrick Mining (NYSE: B) and Shandong Gold, are seeking to add a $400 million project to a new government regime designed to attract large investments.
The project, submitted to Argentina’s Large Investment Incentive Scheme (RIGI), aims to boost the mine’s output by 1.6 million ounces over its useful life through a $400 million investment between 2025 and 2028, company sources told Reuters on Thursday.
The application was submitted to Argentina’s Economy Ministry in early August, though the details were not disclosed until Thursday. The project is managed by the joint venture formed in 2017 after Shandong Gold acquired a 50% stake in the mine from Barrick.
The RIGI framework, which went into effect last year, is a key part of libertarian President Javier Milei’s economic reforms aimed at boosting investment. It provides companies with…
