Neuquén turns its state miner Cormine into a Corporation for private lithium and copper partners

Cormine stops being a Provincial State Company (100% state-owned, with no private partners in its capital) to be constituted as a Corporation, a form that enables open share capital and public-private partnerships. The stated objective is that the company "can operate with greater dynamism, attract investment and establish public-private partnerships" to activate strategic mining concessions and studies in lithium, uranium, rare earths and geothermal energy, plus the Andacollo district (gold, silver, copper). The reform comes in a package with: (1) a new Mining Procedure Code that replaces the framework in force since 1975; and (2) a Mining Royalties Regime that sets a 3% royalty on value when the mineral is processed outside Neuquén and 2% when the intermediate or final processes occur inside the province (under analysis in the Legislature's Energy committee, March 2026). As a bridging measure, Decreto 455/2026 (03/31/2026) granted a non-repayable contribution of $354,930,331 for operating expenses from April to June 2026, destined to pay salaries of former Andacollo Gold workers (a mine abandoned in 2015), conditional on Cormine submitting a statement of financial position, results and cash flow to the Treasury. unconf · Mar 31, 2026

Announcement: January 2026. Decreto 455/2026 (contribution): in force from 03/31/2026. Transformation into a Corporation: in process/announced (no confirmed enacted rule). unconf · Mar 31, 2026

Mining explorers and operators (lithium, copper, gold, rare earths, uranium); suppliers and service companies of the mining sector; logistics/energy/water SMEs in the Zapala–Andacollo area; the provincial State of Neuquén as a shareholder; former Andacollo Gold workers (beneficiaries of the bridging contribution). unconf · Mar 31, 2026