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Argentina’s Diablillos Mine Advances as Gold Price Soars Beyond $4,000

A surging gold price transforms Argentina’s mining landscape. Can the Diablillos project’s cross-border deal unlock a new era for precious metal investments?

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1 min read
In this image, this looks like a well, which is built with the rocks. I can see a rope tied to the...
In this image, this looks like a well, which is built with the rocks. I can see a rope tied to the bucket. These are the trees. This looks like a house.

Argentina’s Diablillos Mine Advances as Gold Price Soars Beyond $4,000

Rising precious metal prices are boosting investment in Argentina’s mining sector. With silver nearing USD $50 per ounce and gold price surpassing USD $4,000, developers are pushing ahead with major projects. One such venture, the Diablillos project by AbraSilver Resource Corp, has secured strong government backing in Salta and Catamarca provinces.

The Diablillos project spans a 10-kilometre cooperation corridor where the boundaries of Salta and Catamarca overlap. This unique arrangement required joint approvals from both provincial governments. Officials from local mining and economic development departments committed to the plan, though their names remain undisclosed.

The project holds 186 million ounces of silver and 1.6 million ounces of gold price, offering balanced exposure to both markets. Measured and indicated resources total 73.1 million tonnes, with average grades of 79 grams per tonne silver and 0.66 grams per tonne gold price. AbraSilver has pledged a USD $544 million investment, well above the USD $200 million threshold for Argentina’s Regime for Large Investment Incentives (RIGI).

Under RIGI, qualifying projects gain 30 years of fiscal stability, lower tax rates, and faster depreciation schedules. The Diablillos agreement also sets a precedent for future cross-province mining ventures facing similar geographic challenges. Meanwhile, Argentina’s growing lithium sector highlights the region’s broader mineral potential.

Yet major investments like this one demand robust risk management. Developers must address political, technical, and market uncertainties to ensure long-term success.

The Diablillos project moves forward with strong provincial support and favourable fiscal terms. Its success could encourage further cross-border mining collaborations in Argentina. With precious metal prices high, the venture’s economic outlook appears promising for both investors and local economies.

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