The Argentine national government transformed the company Yacimientos Carboníferos Río Turbio into a Corporation, according to decree 115/2025 signed by the president, Javier Milei, the chief of staff, Guillermo Francos, and the minister of economics, Luis Caputo, and published in the Official Bulletin. The representation of the shares will be distributed 95% through the Secretariat of Energy and 5% through the Secretariat of Mining, both dependent on the Ministry of Economy.
As part of this transformation, all movable and immovable assets, credits, brands, registrations, patents, and other material and immaterial goods of the company are transferred to Carboeléctrica Río Turbio S.A. Carboeléctrica Río Turbio S.A. will have the obligation to present a budget for the year 2025 within a period of 60 days.
The Coal, Railway, Port, and Energy Complex under YCRT has been declared "subject to privatization." The main objective behind this measure is to "optimize the operation of the coal mining, railway, port, and energy complex," as expressed in the considerations of the decree.
Additionally, the national state will assume the debts that the company had before its transformation into a Corporation. Regarding the future management of the company, it is established that the state will maintain a majority participation in its share capital and will have a period of 180 days to negotiate a Collective Labor Agreement.
The personnel of YCRT will come under the Law of Employment Contract No. 20.744, preserving their acquired rights. The liabilities of YCRT will be transferred and assumed by the National State, through the Ministry of Economy, and the necessary human resources for the development of the company's activities will also be transferred.
Finally, the possibility is established for the National State to organize a shared ownership program and incorporate private capital, while maintaining at all times control or majority participation in the share capital of Carboeléctrica Río Turbio S.A.
