Argentina

Elevated Risk

Argentina · Country · Last assessed Apr 2026

Composite Score 14/25

Higher = lower risk. 22–25 LOW · 18–21 MODERATE · 13–17 ELEVATED · 8–12 HIGH · 5–7 EXTREME.

Permitting Timeline & Predictability

2/5

Provincial-level permitting varies widely; San Juan and Salta accommodating, others restrictive.

Fiscal Regime Stability

3/5

Royalty stable but FX controls historically constrained capital movement; Milei reforms ongoing.

Political & Security Risk

3/5

Milei government has reduced FX restrictions and improved investment framework; durability uncertain.

Infrastructure & Power

3/5

Variable; Andean projects often need full build-out.

Indigenous, Community & ESG

3/5

Indigenous consultation framework varies by province.

Assessment Summary

Argentina has world-class lithium endowment in the northwest (Salta, Jujuy, Catamarca) and significant copper-gold porphyry potential along the Andean arc. The Milei government's Régimen de Incentivo para Grandes Inversiones (RIGI) provides materially better fiscal and FX terms for qualifying large projects.

Argentina's history of capital controls, currency crises, and policy reversals creates structural uncertainty over multi-year project timelines. The current reform direction is constructive but the durability of the framework across electoral cycles is the central question. Provincial-level variation remains significant — Mendoza and Chubut have effectively prohibited some forms of mining.

Jurisdiction risk is one input — geology, capital structure, and management still matter. See the Verdict Framework for full company scorecards.