Latest news with #RIGI
Cision Canada
a day ago
- Business
- Cision Canada
Lithium South Strengthens the Development Team and Fast-tracks HMN Project Feasibility
VANCOUVER, BC, July 23, 2025 /CNW/ -- Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce the appointment of Claudio C. Zalewski as Director of Development & Construction for the Hombre Muerto North ("HMN") Lithium Project (the "Project") in Argentina's Salta basin. Based in Salta, Mr. Zalewski is a bilingual civil engineer (BSc Civil Engineering, Universidad de Buenos Aires, 1981) with more than forty years of project-delivery experience, including: Project Director – Pastos Grandes Lithium Project (US $450 M) Engineering & Home-Office Construction Manager – Centenario Lithium Project (US $550 M) Consultant - ADY Resources Rincon Lithium Project, located on the Rincon salar in Salta Province. "Joining Lithium South at this pivotal moment lets me bring decades of lithium-brine experience to unlock the full value of the Hombre Muerto North Lithium Project. With the groundwork already in place, I'm confident we can reach feasibility swiftly and move toward construction alongside committed funding partners," said Claudio C. Zalewski, Director of Development & Construction. Fast-track Work Plan Underway Together with the COO, Mr. Zalewsky has prioritized four workstreams documented in the project register: DFS Tender Package – draft ready for bidder issue Design Criteria – consolidated discipline bases of design CAPEX/OPEX & Financial Models – templates 70 % populated Project Execution Plan & Procedures – Revision A under internal review Lithium South is working to complete a comprehensive development schedule covering every stage from Feasibility Study award through construction and commissioning, reinforcing the target to launch the Feasibility Study tendering before end-Q3 2025 and deliver full Feasibility by late Q1 2026. New Tax and Import Regulations / RIGI Welcomed by LIS Recent changes to tax and import regulations in Argentina are welcomed by Lithium South. Argentina's Régimen de Incentivo a las Grandes Inversiones (RIGI), created under Law 27.742 (July 2024), grants eligible projects (> US $200 M) a 30-year stability regime on tax, customs and FX rules and a flat 25 % corporate income-tax rate, alongside accelerated depreciation, VAT/import-duty relief and phased export-duty reductions. This new regime is expected to significantly impact the feasibility of the HMN Li Project in a very positive way. Project Option The Company is pleased to announce it has arranged the Purchase Option of the Hydra X 1 and Hydra X 2 claim blocks located near the Company holdings on the Hombre Muerto Salar. The two projects total approximately 5,555 hectares and increase the Company holdings within the Project area to over 10,000 hectares. Terms for the Purchase Option are a purchase price of US$2 Million payable upon the commencement of construction of the Project, or the sale of the Project and/or Company. The Purchase Option is at arms- length for the Company. Project Discussion Update The Company is in discussions with several O.E.M., mining and financial groups for the funding and development of the HMN Li Project. The discussions announced in January of 2025 are still ongoing though the party noted is now out of the exclusivity period. While the market remains challenging, interest in the high quality HMN Li Project remains strong. About Lithium South Development Corp. Lithium South owns 100% of the HMN Li Project located in Salta and Catamarca Provinces, Argentina, in the heart of the lithium triangle. The Salar del Hombre Muerto has a history of lithium production, with Rio Tinto Lithium (Formerly Arcadium Lithium and recently purchased by Rio Tinto Corporation for US$6.7 billion in March 2025) in operation to the south of the HMN Li Project for over twenty-five years. The HMN Li Project is adjacent to the east with a U.S. billion-dollar lithium development by POSCO (Korea), now in lithium production. Exploration work to date has delineated a NI 43-101 compliant 1,583,200 tonne Lithium Carbonate Equivalent ("LCE") Resource at an average grade of 736 miligrams per liter lithium (mg/L Li ) , with 1,463,000 tonnes in the measured category and 120,000 tonnes in the indicated category, at a cutoff grade of 500 mg/l Li (Note 1 below) on the Alba Sabrina, Natalia Maria, and Tramo claim blocks, three of five non-contiguous blocks that make up the HMN Li Project (View Report: A recent Preliminary Economic Assessment (Note 2 below) April 30, 2024, delineates potential to develop a 15,600 tonne per year lithium carbonate project. LIS is now moving the project forward to a Feasibility Study. On behalf of the Board of Directors Adrian F. C. Hobkirk President and Chief Executive Officer Investors / Shareholders call 855-415-8100 / website: The contents of this press release and the scientific information contained herein were reviewed by Mr. William Feyerabend, CPG, a Consulting Geologist and a Qualified Person under N.I. 43-101. Mr. Feyerabend participated in the writing of this press release and approves the content. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release. Note 1: A report titled, Updated Mineral Resource Estimate – Hombre Muerto North Project, NI 43-101 Technical Report Catamarca and Salta, Argentina, Mark King, PhD, PGeo, Peter Ehren, MAusIMM, September 5th, 2023. Note 2: The report titled, N.I. 43-101 Preliminary Economic Assessment Hombre Muerto North Lithium Project, Salta, Argentina, was completed by Knight Piesold Consulting and JDS Energy and Mining Inc., and on SEDAR April 30, 2024 This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
Yahoo
22-05-2025
- Business
- Yahoo
Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme
Argentina's Government has officially approved Rio Tinto's $2.5bn (2.86trn pesos) Rincon lithium mining project, the first mining project under the newly established RIGI investment incentive regime, reported Reuters. The Rincon project is situated in Salar Del Rincón, Salta province, Argentina. The approval announcement was made by Daniel Gonzalez, the country's Mining and Energy Coordination Secretary, at a conference in Buenos Aires. The mining sector in Argentina had been voicing concerns regarding the prolonged approval process for seven projects that were submitted since the RIGI programme's launch nine months ago. The RIGI framework aims to offer tax and customs advantages, access to international arbitration for disputes and long-term stability plans. Other companies that have applied for the RIGI programme include China's Ganfeng, Canada's McEwen Copper and South Korea's Posco. Of these, five are lithium projects, with the remaining two focused on gold and copper. Despite regulations stipulating a decision within a maximum of 45 working days, only Rio Tinto's project has been approved to date. Industry insiders suggest that the government did not intend to delay the process but was navigating complex approval procedures across various state departments. Some companies may have also submitted premature applications that did not meet the necessary criteria. Argentina CAEM mining chamber head Roberto Cacciola said: "We are grateful because there was strong anxiety over what was happening with the mining RIGIs. This was major news." The libertarian government led by President Javier Milei is aiming to bolster Argentina's mining industry to attract foreign currency and maintain economic stability amidst high inflation rates. As the fourth-largest lithium supplier globally, Argentina, alongside Chile and Bolivia, is part of the 'lithium triangle', which has the largest reserves of the metal essential for electronics and electric vehicles. Argentina is not only a significant exporter of gold and silver but is also anticipating the development of substantial copper projects. However, as of now, none of the copper projects are in production. Last year, Argentina's mineral exports amounted to $4.8bn, with gold leading the way, followed by silver and lithium. In February 2025, Worley was selected as the lead integration delivery partner for the Rincon lithium project. "Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
22-05-2025
- Business
- Yahoo
The $2.5 billion Rio Tinto Lithium Mining Project has been Approved by Argentina
According to Daniel Gonzalez, Secretary of Mining and Energy Coordination, Argentina has authorized a $2.5 billion lithium mining project by Rio Tinto Group (NYSE:RIO), the first mining approval under the nation's RIGI investment incentive program. The Rincon project, in Salta province, attempts to profit from Argentina's large lithium reserves while also increasing foreign currency inflows in the face of economic constraints. At the moment, Argentina is the fourth-largest producer of lithium globally. Aerial view of an open pit mine, with workers extracting minerals. For investors, the RIGI scheme provides long-term regulatory stability, access to international arbitration, and tax and customs benefits. The market is worried about bureaucratic delays since, out of seven proposals, Rio Tinto Group (NYSE:RIO)'s project is the only one approved during the program's nine-month existence. The head of the mining chamber CAEM, Roberto Cacciola, stressed the significance of this permission while pointing out industry concerns over delayed progress. Despite the rule's 45-day resolution deadline, five lithium projects and two for gold and copper are still pending judgments for other applicants, including Ganfeng of China, McEwen Copper of Canada, and Posco of South Korea. Mining is a top priority for President Javier Milei's administration to stabilize an economy plagued by inflation. Gold, silver, and lithium were the top three minerals that Argentina exported last year, totaling $4.8 billion. While we acknowledge the potential of RIO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIO and that has 100x upside potential, check out our report about this READ NEXT: and . Sign in to access your portfolio
The Star
21-05-2025
- Business
- The Star
Argentina approves US$2.5bil Rio Tinto lithium mining project
President Javier Milei's libertarian government is looking to boost the South American country's mining sector to bring in much-needed foreign currency. — Reuters BUENOS AIRES: Argentina's government has approved a US$2.5bil lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project, located in the northern Salta province, under the Incentive Regime for Large Investments (RIGI) programme was announced by the country's Mining and Energy Coordination secretary Daniel Gonzalez at a conference in the capital Buenos Aires. Argentina's mining sector has expressed concerns over delays in approvals for seven projects submitted to the government since the RIGI programme was launched nine months ago. 'We are grateful because there was strong anxiety over what was happening with the mining RIGIs,' the head of Argentina's Chamber of Mining Companies, Roberto Cacciola, told the conference. 'This was major news.' President Javier Milei's libertarian government is looking to boost the South American country's mining sector to bring in much-needed foreign currency and maintain economic stability as the country faces painful inflation levels. Argentina is the world's No. 4 lithium supplier and together with Chile and Bolivia forms the so-called 'lithium triangle' that holds the world's largest reserves of the white metal used in electronics, electric vehicles and other key technologies. The South American nation also exports gold and silver, and has major copper projects in the pipeline, though none are currently producing. Other firms that applied for mining projects under the RIGI programme include China's Ganfeng, Canada's McEwen Copper and South Korea's Posco. Five of the projects are for lithium, while the remaining two are for gold and copper, respectively. However, only Rio Tinto's project was approved as of Tuesday, despite a rule that a decision must be made in a maximum of 45 working days. Industry sources said the government likely did not intend to cause delays, but was facing complex approval processes involving various state departments and some companies may have rushed to apply at too early a stage to meet the criteria. The RIGI framework is intended to provide tax and customs benefits, access to international arbitration in case of disputes and long-term stability plans. Argentina exported US$4.8bil of minerals last year, mostly gold, followed by shipments of silver and lithium. — Reuters
Reuters
20-05-2025
- Business
- Reuters
Argentina approves $2.5 bln Rio Tinto lithium mining project
BUENOS AIRES, May 20 (Reuters) - Argentina's government on Tuesday approved a $2.5 billion lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project under the RIGI incentive scheme was announced by the country's mining and energy coordination secretary Daniel Gonzalez at a conference in the capital Buenos Aires.
