TNR Gold Corp announced that its Los Azules copper project is seeking admission into Argentina’s Large Investment Incentive Regime (RIGI) to secure tax benefits and improve financial viability. This initiative follows a USD 2.7 billion investment plan and highlights Argentina’s increased openness to large-scale infrastructure investments in the mining sector.
TNR Gold Corp, trading under TSE:TNR, has provided an important update regarding its Los Azules copper project. McEwen Copper Inc., a subsidiary of McEwen Mining, is seeking to have this project included in Argentina’s Large Investment Incentive Regime (RIGI). The initiative involves an estimated investment of USD 2.7 billion, aimed at leveraging tax reductions and other benefits to improve its overall financial appeal to investors.
This strategic move reflects Argentina’s renewed approach to attracting substantial infrastructure investments. The objective is to bolster the mining sector in the country and potentially yield favorable returns for its stakeholders. TNR Gold Corp itself primarily engages in the mining industry by focusing on net smelter returns royalties, possessing a 0.4% NSR Royalty on the Los Azules copper, gold, and silver project in San Juan, Argentina.
In summary, TNR Gold Corp’s collaboration with McEwen Copper Inc. in pursuing investment incentives for the Los Azules project illustrates a significant opportunity for enhancing the project’s financial viability. By leveraging Argentina’s RIGI framework, the initiative stands to incentivize large investments in the mining sector and attract stakeholder interest, ultimately benefiting the regional economy.
Original Source: www.tipranks.com
