Argentina

Argentina is a federal republic with a civil law system and three branches of government, with powers exercised at federal, provincial and municipal levels; each province has its own constitution, subject to the National Constitution. Congress has exclusive power to enact “substantial” mining law through the National Mining Code, plus federal environmental minimum standards and investment-promotion laws. Provinces hold “original domain” (dominio originario) over their territory’s natural resources, and administer mining procedures, authorities, environmental permitting, water rights, royalties and land-use matters, including EIAs (environmental impact assessments) and permits. Municipalities do not regulate mining rights, but handle land use, zoning, permits, infrastructure, taxation, and local environmental/health/safety matters.

The legal basis for mining rights is both constitutional (sections 75 and 124 of the National Constitution) and statutory (the Mining Code), which classifies mineral substances into three categories by relative economic and strategic importance. First-category minerals (gold, silver, copper and other hard-rock minerals, fossil fuels and nuclear minerals) belong to the state (federal or provincial) and, regardless of surface ownership, may only be explored and exploited through the mining rights described in Section 1.4, below. Second-category minerals (certain salt deposits, guano, tailings and minidump heaps) may also be granted to third parties, but the surface owner or existing concessionaire has a preferential right to request them first. Third-category minerals (common quarry substances such as sand, stone, clay and gravel) belong outright to the surface landowner. Since all mining projects currently in operation are in provincial territory, provinces act as the competent granting authorities, administering permits, concessions, cadastres and royalties.

Mining rights are property distinct from surface land ownership: a concession does not grant title to the land, and surface access generally requires the landowner’s consent. Conversely, surface owners have no rights to the minerals beneath their land (except limited second-category and all third-category minerals).

Concessionaires may request statutory surface easements (road, occupation, water use, transport, infrastructure) and even compulsory land acquisition, subject to guarantees and compensation, usually negotiated with the landowner. If the parties do not reach an agreement, the provincial authority will set the price for the easement. Mining rights enjoy functional priority, so landowners generally cannot oppose an easement (though may challenge compensation). Where Indigenous communities are affected, prior consultation is mandatory.

Granting and maintaining mineral rights is a provincial competence, exercised exclusively through the provinces’ mining directorates, ministries or courts; federal authorities play only a limited role (federal territories, interprovincial impacts), and municipalities regulate certain local aspects.

The regime distinguishes exploration permits (cateos) — temporary rights giving priority over discoveries, though not a concession prerequisite — from mining concessions. Permits require a one-time fee (canon), landowner identification, Official Gazette publication, the filing of an environmental impact report (EIR) and its approval through the issuance of an environmental impact statement (EIS), and compliance with the filed exploration program.

Mining concessions are a final, permanent and transferable title. The process begins with a statement of discovery (with a mineral sample and publication) and is completed upon approval of a land survey (mensura), following registration of the discovery, an EIS for the first exploration program (updated every two years thereafter), and preliminary exploration work within 100 days. Registration of the survey confers final title. Both discoverers and concessionaires must pay a semi-annual canon, file investment plans and compliance affidavits, keep environmental reports updated, and maintain activity; non-compliance can lead to fines, suspension or forfeiture.

Both permits and concessions are granted on a “first come, first served” basis over areas free of pre-existing rights.

Argentina has no specific regulation on mineral resource/reserve classification. Industry has sought a domestic reporting code based on CRIRSCO guidelines, but Argentina is not a CRIRSCO member and has no national reporting organization. The only classification is the legal/administrative one under the Mining Code (Section 1.2, above), not a technical one.

Environmental protection in mining is a mixed federal-provincial system: Congress sets minimum standards (consistent with the section 41 constitutional right to a healthy environment), which provinces implement, enforce and may make stricter. The Mining Code (Law No. 24,585 (1995)) requires an EIA at every project stage, approved by the provincial authority before activities begin — typically two to four months for early exploration, much longer for construction/production.

Law No. 25,675, the General Environmental Law, sets nationwide minimum standards based on prevention, precaution, sustainability and intergenerational equity. It requires an EIA before any activity that may significantly degrade the environment; imposes strict liability for environmental damage (restoration or, failing that, a compensation fund); guarantees public participation through mandatory public hearings; grants broad standing for collective environmental actions; and requires hazardous operators to maintain financial (typically insurance) guarantees for remediation.

Other key environmental laws include:

• Laws No. 25,831 (2004), 25,612 (2002), 24,051 (1992) and 20,284 (1973): set further minimum standards for environmental information access, industrial/service and hazardous waste, and air quality, respectively.
• Law No. 25,688 (2002), the Water Management Law: minimum standards for water preservation and use; a permit is required for public-domain waters.
• Law No. 26,639 (Glacier Protection Law, as amended in 2026): protects glaciers and periglacial landforms with a demonstrated hydrological function, prohibiting mining, hydrocarbon and industrial activity on them; provincial authorities determine protected status case-by-case through the EIA process.
• Law No. 26,331 (2007), the Native Forests Law: relevant to access roads and land-use change in forested provinces; requires provincial zoning (OTBN) classifying forest as Red (no clearing), Yellow (sustainable use under a management plan) or Green (partial transformation allowed), plus an EIA with public hearing before clearing.

Community relations, particularly with Indigenous communities, are central to mining projects. Law No. 24,071 (1992), ratifying ILO Convention 169, requires Indigenous communities be consulted in a prior, free and informed manner whenever a project may affect their lands, resources or way of life — typically organized by provincial authorities within the EIA/EIS process, in good faith through representative institutions. There is no code detailing the procedure, but courts recognize it may be required before permits are granted; non-compliance can trigger judicial challenges or delays.

There is no unified or mandatory ESG framework specific to mining, and ESG is not formally defined in legislation; ESG is instead addressed through existing environmental/social laws, capital markets regulation and voluntary standards, including:

• the Mining Code and General Environmental Law (Section 2.1, above);
• ILO Convention 169 (Law No. 24,071), the main anchor for prior-consultation claims;
• the Escazú Agreement (Law No. 27,566 (2020)), guaranteeing access to environmental information, public participation and access to justice, implemented mainly through EIA public hearings (Section 2.1, above);
• CNV guidelines on green/social/sustainable bonds and voluntary ESG disclosure; and
• voluntary international frameworks (IFC Performance Standards, ICMM Principles, Global Industry Standard on Tailings Management (GISTM), Extractive Industries Transparency Initiative (EITI), Global Reporting Initiative (GRI), ISSB/IFRS S1-S2, Task Force on Climate-related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB)), the same are used worldwide and are not mandatory in Argentina.

Illegal mining is not a serious issue in Argentina: all territory is under federal or provincial control, with no insurgent groups, organized crime or inaccessible areas obstructing enforcement. Under the Mining Code, a violator may be ordered to suspend activities and fined 20–200 times the applicable canon; non-criminal environmental breaches can bring warnings, fines, suspension, remediation, closure or disqualification. Criminally, section 200 of the Criminal Code punishes dangerous contamination with three to 10 years’ imprisonment and fines, and the Hazardous Waste Law (No. 24,051) imposes similar penalties for pollution via hazardous waste.

There is no mining-specific climate change law; Argentina addresses it through general legislation and industry initiatives. Law No. 27,520 (2019), the Climate Change Law, sets minimum mitigation/adaptation standards across sectors, indirectly affecting mining; the Mining Code requires EIAs throughout the mining lifecycle; and the National Climate Change Adaptation and Mitigation Plan (Resolution 146/2023) promotes renewable energy, water management and climate-conscious mine closure, in line with Argentina’s Paris Agreement (net zero by 2050) commitments. Industry practice is otherwise shaped by voluntary standards (Towards Sustainable Mining, EITI, National Mining Sustainability Program).

Argentina’s critical-mineral initiatives focus on lithium and, increasingly, copper, both governed by the general mining framework (Mining Code, Mining Investment Law, the Régimen de Incentivo para Grandes Inversiones (RIGI) (Incentive Framework for Large Investments)), with no mineral-specific royalty or state participation; projects are administered by the host provinces (Catamarca, Jujuy, Salta for lithium). Copper is a growing priority given Argentina’s undeveloped porphyry deposits and government efforts, via the RIGI and bilateral cooperation (Section 5.2, below), to become a long-term supplier. Uranium and nuclear minerals remain subject to a distinct layer administered by CNEA, Argentina’s Nuclear Energy Commission: ore exploration follows the ordinary provincial concession system, but processing, enrichment and transfer require CNEA authorization for non-proliferation reasons, applied equally to Argentine and foreign investors. CNEA has a right of first offer to purchase nuclear minerals.

Private parties engaged in mining are subject to national, provincial and municipal taxes. At the national level:

• Income tax (Law No. 20,628): profit-based, progressive rates of 25–35%; residents pay on worldwide income, non-residents only Argentine-source.
• VAT: neutral for mining, as exports are zero-rated, input credits recoverable, and exploration-phase VAT recoverable pre-production under the Mining Investment Law (Section 4.2, below).
• Export duties: currently none apply to mining exports.
• Bank debits/credits tax (Impuesto al cheque): 0.6% per transaction, partly creditable against income tax.
• Personal assets tax (Bienes Personales): paid by Argentine companies as substitute obligor on equity held by foreign shareholders.

At the provincial and municipal level:

• Royalties: capped at 3% of mine-head value (5% under Law No. 27,743 for projects starting construction after July 2024).
• Gross turnover tax (Ingresos Brutos): rates/exemptions vary by province.
• Stamp tax: 1–1.5% of contract value, levied by each of the 24 jurisdictions.
• Municipal rates for services actually rendered.

There is no special tax regime for foreign investors beyond the worldwide/Argentine-source distinction above. Thirty-year tax stability is available under the Mining Investment Law (Section 4.2, below). It must be noted that the incentives of the Mining Investment Law and the RIGI are equally available for local and foreign investors.

Tax incentives for mining center on the Mining Investment Law (Law No. 24,196) and the RIGI (Law No. 27,742 (2024)), both described in Section 5.1, below.

The primary tax on transfers of mining assets is income tax: Argentine corporate sellers pay at the rates in Section 4.1, above; for foreign sellers, the Argentine payor must withhold income tax on a presumed net taxable gain if the cost basis is not properly documented. Stamp tax also applies (1–1.5% of contract value, per jurisdiction). Resolution No. 5663/2025 introduced specific VAT/income tax withholding for mining-sector transactions, including exploration/prospecting rights holders. The RIGI projects benefit from a reduced effective tax burden on these transfers (Section 5.1, below).

Argentina attracts mining investment principally through two regimes: the Mining Investment Law (Law No. 24,196 (1993)) and the RIGI (Law No. 27,742 (2024)).

Mining Investment Law. Open to any registered project, no minimum investment threshold. Main features include:

• 30-year fiscal stability; royalty cap (Section 4.1, above);
• accelerated depreciation and up to 100% deduction of exploration/development expenditure;
• an income tax exemption on capital contributions of mines/mining rights;
• pre-production exploration VAT recovery; and
• import-duty exemptions on capital goods.

RIGI. A general (not mining-specific) regime for projects meeting a minimum investment threshold (broadly USD 200 million, staged for large multi-phase projects). Main features include:

• 25% corporate income tax (versus the standard 35%);
• accelerated depreciation and immediate use of tax losses;
• import-duty/VAT exemptions on capital goods and inputs;
• phased reduction of export duties;
• earlier FX access for dividend repatriation and reduced export-proceeds repatriation obligations; and
• a 30-year tax/customs/FX stability regime with access to arbitration on breach.

Both regimes may apply over a project’s life without duplicating the same benefit. Argentina also attracts investment through equal treatment of foreign investors (Section 5.2, below), an extensive BIT/DTT network (Section 5.3, below), and the critical-minerals framework agreed with the United States (Section 5.2, below).

Argentina grants foreign investors equal treatment and imposes no sector-specific mining restrictions, though projects must meet general regulatory requirements and provincial concession regimes. The RIGI (Section 5.1, above) is sometimes cited as the key recent development, but it is not foreign-specific: it applies equally to Argentine and foreign investors meeting its thresholds.

A more direct trend is critical-minerals cooperation with the United States. In February 2026, both countries signed the Argentine Republic–United States Framework for Securing of Supply in the Mining and Processing of Critical Minerals, aimed at building secure, diversified supply chains (including lithium and copper, where Argentina holds substantial reserves) and facilitating long-term bilateral investment and cooperation.

Argentina has bilateral investment treaties (BITs) in force with 48 countries (including Australia, Canada, Chile, China, Germany, Spain, the UK and the US), covering investment promotion and protection across sectors, including mining. These typically grant national and most-favored-nation treatment, fair and equitable treatment, protection against uncompensated expropriation, free transfer of capital and profits, and an investor-state arbitration clause — usually under International Centre for Settlement of Investment Disputes (ICSID) Convention (Argentina is a signatory of the convention), though some allow UNCITRAL arbitration.

Argentina also has double taxation treaties with over 20 countries (including Canada, China, Spain, Switzerland and the UK), reducing withholding taxes on dividends, royalties, interest and capital gains. The Argentina–Chile Mining Integration and Complementation Treaty, the only sector-specific mining treaty, enables binational mining projects along the border under unified regulatory oversight.

Argentina is also a member of UNCITRAL and the World Bank’s MIGA (political-risk insurance against expropriation, currency inconvertibility and war/civil disturbance), and it takes part in the US-led Minerals Security Partnership (Section 5.2, above) and the EITI. It is also a candidate country for OECD accession (Initial Memorandum submitted November 2025), a multi-year process expected to reinforce its institutional framework for foreign investors, including in mining.

Most financing for exploration, development and mining comes from foreign investors and securities markets — domestic markets play a limited role, though several major Argentine groups hold stakes in important projects, and local participation is increasing. The Toronto Stock Exchange (TSX/TSX-V) is the most important venue for Argentina-focused junior companies; the Australian Securities Exchange (ASX) is also active.

Beyond equity markets, projects are also financed through institutional investors, strategic partnerships, and international project finance lenders. Multilateral credit organizations have so far played a role in a small number of projects, most prominently Rio Tinto’s Rincón lithium project (Salta), part of whose USD 1.175 billion package came from the IFC and IDB Invest, alongside Japanese and Australian export credit agencies.

For project-level debt finance, Argentine law provides several security structures over mining assets:

• Mortgages. Granted over real property to secure an obligation (typically a loan); possession stays with the owner, but the creditor may seek judicial foreclosure on default, with priority set by registration order.
• Pledges (prendas). Registered, non-possessory pledges (prenda con registro) over equipment, machinery and vehicles let the debtor keep possession while enforceable against third parties once registered; may also cover company shares, with receivables (offtake payments, insurance proceeds) assignable in guarantee (cesión en garantía). Enforcement on default is generally expedited, sometimes extrajudicial.
• Trusts (fideicomisos). Widely used for their flexibility and insolvency-remote features. A settlor transfers assets (shares, mining rights, offtake/export proceeds) to a trustee, held in a segregated estate for the lenders’ benefit, shielded from either party’s insolvency; for example, export proceeds routed through a trust account that services debt before releasing any surplus. On default, the trustee can apply or liquidate assets without judicial foreclosure, faster than a mortgage or pledge.

There is no single agency or centralized repository for all mining, geological, environmental, social, cadastral and permitting information in Argentina; it is distributed among several national and provincial institutions.

SEGEMAR (Servicio Geológico Minero Argentino), the national geological survey, provides geological, topographic and metallogenic maps through its two institutes (IGRM and INTEMIN). Under Law No. 24,466, it manages the National Database of Geological Information, to which national entities and Mining Investment Law beneficiaries must periodically report data (except confidential material), made public through the Online Geospatial Information System (SIGAM). The National Mining Cadastre System (SIACAM) compiles cadastral, economic and social data nationally, though mining cadastral data is primarily kept provincially.

The main business structures used to carry out mining activities in Argentina are the following:

• Corporation: full legal personality separate from shareholders, limited liability, and freely transferable shares.
• Limited liability company: limited liability for members; ownership represented by quotas rather than freely transferable shares.
• Simplified corporation (SAS): incorporated online within days, single shareholder allowed, simplified governance; often used for exploration-stage or special-purpose vehicles.
• Foreign company branch: used by foreign companies operating without a full local subsidiary, particularly at the exploration stage.
• Unincorporated joint venture (Unión Transitoria): an association of local and/or foreign companies for a specific project; common for multi-party mining projects.
• Farm-out and option agreements.