Over three decades, Jose Luis Manzano built a reputation for diving into distressed sectors in Argentina and navigating tumultuous economic and political cycles to shape a portfolio ranging from media to energy.
“We believe we are positioning ourselves in things that will be necessary for the next 50 to 100 years,” Manzano said in a rare interview from London.The 68-year-old physician was a minister under former President Carlos Menem in the early 1990s before entering the business world with a TV company. For now, Manzano is working to get the mining projects up to full speed. “We are recruiting people every day,” he said. “There’s no shortage of qualified people in Argentina. I’m very enthusiastic because they’ve been waiting for Argentina to become a mining country, and now they see the opportunity.”
Manzano has long been adept at surfing Argentina’s inflationary spikes, sovereign-debt defaults and money-flow restrictions. Under the Milei administration, he and other business leaders see opportunities to grow their personal wealth and solidify their legacies. “I am optimistic,” he said. “We believe the initial action against inflation is succeeding and that maybe the economy can start on a growth path in the fourth quarter — and that is attracting a lot of attention to the play in Argentina.”
Still, Manzano’s pivot to mining doesn’t come without challenges in Argentina, where the industry pales in comparison to neighboring Chile and has struggled to convince communities that economic benefits outweigh environmental risks.
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