Argentina
Business leaders continue to track bills on mining, carbon and biofuels in Congress
In Parliament, initiatives linked to rare earths and the carbon market are moving forward, while obstacles persist for the biofuels law. Sector chambers are calling for definitions because of their impact on investment and production.
Different business sectors are closely following the legislative process for bills linked to mining, energy and the environment, amid debates that, according to Ámbito, could directly affect new investments in Argentina.
One of the recent advances was the committee report in the Chamber of Deputies to add rare earths to the Mining Code. These are 17 minerals in the lanthanide group, used in high-power magnets, batteries, LED devices, lenses and industrial processes. According to Ámbito, the Argentine Geological and Mining Service identified 190,395 tons of resources of these elements, mainly in Salta, Jujuy, San Luis and Santiago del Estero.
According to that outlet, the initiative promoted by Silvana Giudici also seeks to have the sector covered by the RIGI until July 2027. Peronism, meanwhile, put forward another proposal: it adds rare earths to the Mining Code, but leaves them outside the regime and proposes declaring their extraction a matter of national interest, with a federal strategy for those raw materials.
In the parliamentary debate, Leonardo Rodríguez, of the Argentine Chamber of Mining Entrepreneurs, called for “a stable, competitive and predictable legal framework,” while Juan Biset, of the Argentine Council for International Relations, warned about the effect legislation can have on sector costs, according to Ámbito.
Another bill moving forward in the Senate is the regime to organize the measurement and monitoring of the carbon market. The bill, introduced by Flavia Royón, would regulate the trading of carbon credits generated by initiatives such as reforestation, renewable energy or regenerative agriculture. It would also create the National Emissions Reduction Registry.
According to Ámbito, the proposal provides for 15 years of fiscal stability and tax benefits, in addition to establishing that ownership of the credit belongs to the landowner and not the state. The Argentine Agroindustrial Council backed approval of the text and said in a statement that it could represent some $3,900 million for the country, in addition to territorial investments of more than $2,000 million.
Meanwhile, the biofuels law was stalled after the collapse of a Senate session in which it was expected to receive half approval. The bill raises the blending percentages for ethanol and biodiesel, but faces cross-cutting resistance.
According to Ámbito, chambers such as Ciara, Carbio, the CAA, Camarco and various stock exchanges called for urgent treatment of the initiative. The Córdoba Grain Exchange also spoke in favor. On the other side, the Chamber of Regional Small and Medium-Sized Biofuel Producers warned that the bill would harm SMEs and concentrate biodiesel production in integrated firms.
Ámbito added that there were also objections from the National Energy Secretariat, where officials see a possible impact on fuel prices. In that context, senators from the north are negotiating changes with La Libertad Avanza, while the possibility of splitting the debate between a bill for ethanol, with broader consensus, and another for biodiesel, where the biggest differences lie, is gaining strength. In that line, Osvaldo Jaldo spoke out, asking that production in the north of the country be taken into account.
Sources
About this note. Written by El Notero with assistance from artificial intelligence, based on what was published by the cited outlet. El Notero did not conduct its own reporting on this fact.
