With the presence of Milei, the first RIGI project was inaugurated: two lithium plants in Catamarca with investments of US$ 1.3 billion

In an event held in the salt flat, 4,000 meters above sea level, President Javier Milei defended the RIGI program, that grants tax benefits to attract investments, and maintained that “mining transforms the lives of communities.”

Accompanied by his sister Karina, the Chief of Staff Diego Santilli, the Minister of Economy Luis Caputo, the Secretary of Mining Luis Lucero and the Governor of Catamarca Raúl Jalil, Milei presided over the inauguration ceremony of the lithium carbonate production plantswithin the framework of Miner’s Day.

“Mining transforms the lives of communities, especially in remote areas where productive alternatives are scarce, if not null, when the activity is articulated with the private sector the benefits are multiplied and sustained beyond the useful life of the project. This is true federalism and inclusion,” he expressed during his speech.

The president defended the RIGI scheme, one of the main flags of his government, questioned by several economists because despite multiple announcements, investment continues to fall in Argentina.

“The RIGI is synonymous with fiscal, customs, exchange stability and legal security for those who risk their capital and that becomes investments and jobs for Argentina,” said the president during his speech in Catamarca.

“The Fénix project is very important for Argentina, 30 years later it is expanding again and shows the potential that the sector has,” Milei said.

Rio Tinto is the second largest metals and mining company in the world. Founded in 1873, it has operations in 34 countries, where more than 61,000 employees. Last year they bought the Fenix ​​plant, which was already producing lithium in Catamarca and after entering the RIGI they invested US$1.3 billion in developing an expansion of this plant, known as Fenix ​​1B, and at the same time they built a second plant in the salt flat, called Sal de Vida. The company also has lithium plants in Salta and Jujuy.

The RIGI approved in March 2026 covered a total investment of US$ 531 millionintended for the expansion of the project to increase production through new processing plants, infrastructure and expansion of the natural gas supply capacity. Rio Tinto has another RIGI approved for the Rincón project in Salta, with an investment of US$2 billion.

Amid questions about whether mining “spreads” economic benefits to the provinces, the company maintains that Rio Tinto committed more than US$1.8 billion with Argentine suppliers to supply its Fénix operations, in Catamarca, and Olaroz, in Jujuy, and develop the Sal de Vida and Fénix 1B projects, in Catamarca, and Rincón, in Salta.