Law 24.196 Mining investment

Last updated: 2 November 2022

In 1993, the Argentinian Congress passed the Mining Investment law to support the mining industry. Article 8 of the law establishes that mining enterprises based in Argentina or otherwise authorised to operate in its territory will enjoy "fiscal stability" for a term of 30 years counted from the date of presentation of their feasibility study. "Fiscal stability" means that taxes imposed on these companies will not be increased during this period (royalties are excluded from this provision).  

Article 23 directs mining companies to establish a special environmental fund to prevent and correct the damages that the mining activity may cause in the environment. The annual amount set aside will be at the discretion of the company, but it will be considered as a deductible charge in the determination of the income tax, up to an amount equivalent to five percent (5%) of the operating costs of extraction and benefit.

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