What specific lithium mining project did Milei's government approve incentives for, and who are the key stakeholders involved?

Milei’s government approved incentives for the expansion of a lithium mine in Jujuy province, led by a joint venture involving China’s Ganfeng Lithium Group (47% owner), Lithium Argentina AG (with US-listed shares), and Argentina’s state-owned JEMSE; the project involves a $1.24 billion investment and falls under the RIGI regime, granting legal guarantees and tax breaks.

Why is this approval considered unusual given Milei’s political stance and prior actions toward Chinese state-linked firms?

It is unusual because Milei — a libertarian president who has prioritized ties with the Trump administration and previously blocked Chinese state-run companies from other projects — is now approving major incentives for a project where China’s Ganfeng Lithium Group is the largest shareholder, marking a notable exception to his otherwise Trump-aligned, China-skeptical posture.

Milei Approves Incentives for Lithium Mine Expansion With China Ties

May 14, 2026

Argentine President Milei approved $2.1 billion in mining incentives for a Ganfeng Lithium joint venture and a copper project under the RIGI regime. The initiative aims to boost foreign investment and secure Argentina's role as a critical mineral supplier.

bloomberg

Milei Approves RIGI Incentives for Lithium Mine Expansion with China Ties

Buenos Aires Times

Milei Approves Incentives for Lithium Mine Expansion With China Ties

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