Leaching Phases 8 and 9 expansion — Veladero Mine (gold)

Ley provincial 2827-M on Local Mining Development comes into force, changing the entry door for anyone wanting to sell to this project: from now on, «únicamente serán computables las contrataciones realizadas con proveedores inscriptos y con certificado vigente en RE.PRO.MIN» — only contracts with suppliers registered and holding a valid certificate in the RE.PRO.MIN count towards the miner's 60 % local procurement target. Its article 31 repeals Ley 1208-M, the previous regime, which had created the R.U.P.E.M.

At the close of the second quarter of 2026 sub-phases 8A and 8B are completed on schedule — «Phase 8A and 8B have been completed on schedule» — and cumulative spending on Phase 8 reaches USD 131 million against an estimated cost of approximately USD 250 million. Sub-phase 8C remains without a declared date.

It becomes known that in July the invitations go out for the private tender of the next stage of Phase 8: «Este proceso lo encara la compañía, una vez conocido el proyecto se presentan las oferentes y después del análisis técnico y del presupuesto, se elige a la firma que encarará los trabajos, lo que se especula que arrancará en octubre» — the company runs the process itself, bidders come forward once the project is known, and after the technical and budget review the firm that will carry out the work is chosen, with a start expected in October. The work would run from October 2026 to May 2027, before winter closes the high mountains. The UOCRA union estimates 800 workers, out of 2,500 unemployed construction workers in the province, and notes that «todos los años suelen ser entre 600 y 800» (it is usually between 600 and 800 every year).

Resolución 413/2026 of the Ministerio de Economía is published, approving accession to the RIGI. The resolution declares USD 380,116,079.91 of investment in countable assets — USD 350,116,079.91 of capex plus USD 30,000,000 under the cap of article 174 — the construction window for Phase 8 between July 2024 and May 2027, that of Phase 9 between September 2027 and June 2028, and the commitment of 20 % local procurement on the amount allocated to suppliers.

Accession date to the regime set by article 2 of the resolution: «Determínase como fecha de adhesión al RIGI del Proyecto “Ampliación Fases 8 y 9 del Sistema de Lixiviación en Valle de Mina Veladero”, el día 28 de enero de 2026» — 28 January 2026 verif. It is the date that starts the two-year clock of article 50 of Decreto 749/2024, with a first deadline on 28 January 2028 verif.

Milicic starts Phase 8A of the leach valley: earthworks, geosynthetics installation and HDPE piping, «durante cuatro meses, desde enero hasta abril» (over four months, from January to April), with «un pico de 500 colaboradores en el sitio y una logística que involucra cerca de 80 equipos» — a peak of 500 workers on site and logistics involving around 80 machines. It is the third time the same company handles the geosynthetics at this mine.

The San Juan branch of the Cámara Argentina de la Construcción, signed by its president Ramón Martínez, sends Barrick a letter for leaving local firms out. It names three cases: the tender for Phases 7, 7b and 8 of the leach valley, awarded «con una empresa de Rosario con el argumento de que tenían mejor capacidad técnica y que esto prevaleció sobre las ofertas más bajas que habían brindado las de San Juan» — to a Rosario company on the argument that it had better technical capacity, which prevailed over the lower bids submitted by San Juan firms; the Zocarrón airfield, awarded directly to a Córdoba company in 2019, where «se concluyó que se había actuado incorrectamente» (it was concluded that the process had been improper); and the maintenance of the access road, won on the lowest bid by a company that, according to the letter, «no tiene ningún equipo a su nombre y que la misma no declara personal» — owns no equipment and declares no staff.

The act records that the company declared its investment in countable assets «a partir del 8 de julio de 2024» — from 8 July 2024 — nineteen months before the accession date and twenty-one months before publication verif. With that date, Phase 8A, which according to the contractor was carried out between January and April 2025, falls within what the regime can count thesis.