The company is evaluating the submission of a new investment project focused on exploration, development, and the growth of mineral resources, complementing the RIGI already approved for the Deep Carbonates Project.
By Panorama Minero
AISA Group announced that it is evaluating the submission of a second project under Argentina's Large Investment Incentive Regime (RIGI), with an estimated investment of US$1.5 billion aimed at expanding the development of the Gualcamayo mining district in San Juan Province.
The announcement was made by Juan José Retamero, CEO and Founder of AISA Group, during the meeting held in Madrid between Argentine President Javier Milei and Spanish business leaders and investors as part of the President's official visit to Spain. The meeting was organized by the Argentine Embassy in Spain and attended by Ambassador Wenceslao Bunge Saravia and Foreign Minister Pablo Quirno.
The initiative, named the G50 Program, is intended to consolidate a long-term strategy based on exploration, resource replacement, and district growth. The project would complement the RIGI approved in January 2026 for the Deep Carbonates Project (DCP), which contemplates an investment of US$665 million and estimated exports of US$26.5 billion between 2030 and 2055.
According to the company, the new program envisages the progressive allocation of investment to exploration, development, and production over the coming decades. During the initial stage, the objective will be to accelerate the evaluation of remaining resources within a period of 24 to 36 months in order to incorporate additional ounces into the production profile. Subsequently, the program will advance across different sectors of the district, which covers approximately 38,000 hectares of mining concessions with potential for gold and industrial metals.
"We are thinking of Gualcamayo as a district, not just as a mine. The opportunity lies in integrating Deep Carbonates, brownfield exploration, new targets, and a new vision for our entire property. Argentina needs projects that replenish reserves, generate foreign exchange, and sustain employment for decades so that mining can continue to grow over the coming decades. That is the strategic purpose of the G50 Program, taking advantage of the appropriate incentives for reinvestment," said Nicolás Bareta, Head of Mining at AISA Group.
The project is based on the development of Deep Carbonates, considered the cornerstone of Gualcamayo's new development cycle. According to the company, the operation currently contains 7.1 million ounces of gold in mineral resources and 4.9 million ounces of gold in mineral reserves, certified under NI 43-101 and the JORC Code standards.
"Gualcamayo has ceased to be a declining operation and has become a mining district with a future. The first RIGI allowed us to secure the viability of the Deep Carbonates Project; this second project is intended to consolidate a long-term growth platform with more exploration, more reserves, and more opportunities for San Juan," said Gabriel Corvo, General Manager of Minas Argentinas.
Since acquiring Gualcamayo in 2023, AISA Group stated that it has advanced the continuity of mining operations, financial restructuring, the updating of mineral resources and reserves, and the reactivation of exploration campaigns as part of a strategy focused on reinvestment in infrastructure and district development.
"RIGI is a key tool for Argentina to transform its geological potential into real investment. Our decision is to continue investing in the country, in San Juan, and in a modern, competitive, long-term mining industry. Gualcamayo demonstrates that a mine that appeared to be nearing the end of its life can be reborn when there is vision, the right team, stable macroeconomic conditions, and legal certainty that allows investment," said Juan José Retamero, Founder and CEO of AISA Group.
If implemented, the G50 Program would expand the scale of the planned development at Gualcamayo and reinforce the company's district exploration strategy, with the objective of extending the mine's operating life and increasing its mineral resource base over the long term.
