General Discussion Banter GLN, page-15525

in fact, sp will probably move further down without any news before sh meeting on friday. unfortunately, no news is not good news in gln's case.


on july 8, 2024, the 'large investment's incentive regime (rigi)' was singned into argentine law. lithium argentina wrote an email to everyone about this. it says:
this legislation marks a significant milestone for president javier milei's administration in promoting and faciliating future investments in the country
key highlights of the reform include:
1. applies to lithium and other sectors (e. g. mining, energy, infrastructure) for investments over $200m (projects over $1b receive additional benefetis)
1.1 at least 40% of the investment must be made in first two years
1.2 at least 20% of investment required from local suppliers
2. applications open for new projects and expansions for two years (with potential 1 year extension)
3. 25% corporate tax rate (35% currently)
4. accelerated depreciation for equipment of two years (was three years), infrastructure and cost of mine 60% of useful life
5. amend vat to replace paying for purchases with providing suppliers tax credit certificates (avoids tying up funds in vat)
6. 100% of export proceeds aviable to remain in us dollars in year four onwards (20% in year two, 40% in year three)
6.1 investments over 1b receive fx benefetis one year earlier
7. full access to foreign exchange market to repay loans, pay interest and dividends
8. provinces could charge up to 5% in mining royalties (from 3%) on new projects, pending further changes in provincial law