Argentina: Mining exports to exceed $4 billion in 2022

2022-05-19

Argentina's mining exports are expected to exceed $4 billion in 2022, up nearly 25% from $3.221 billion in 2021, driven by rising mineral prices in the international market, according to official and industry statistics.

Argentina's mining exports in January were us $227 million, up 20.1% year on year, including US $219 million of lithium and metal ore exports and US $800 million of other minerals exports.

In terms of provinces, Santa Cruz remains Argentina's top mining exporter, with mineral exports of $124m in January, or 54.5 per cent of total exports. It was followed by San Juan, Jujuy, Salta and Catamarca with exports of us $29 million, US $28 million, US $26 million and US $14 million respectively. Accounting for 12.8%, 12.4%, 11.5% and 6% of total exports respectively.

In recent years, the Argentine government, the Argentine Ministry of Production and Development and its mining Secretariat have vigorously promoted the development of mining and the low-carbon transformation of industrial energy in order to expand mining exports, increase fiscal revenue and promote economic growth.

According to Siacam, a total of 19 companies have announced mining investments in Argentina in the past two years, with an investment value of more than us $10 billion. Canada's Lundin is making the biggest investment, announcing a $4.2bn investment in Josemaria copper project in SAN Juan province in November. Last year, South Korea's Posco and Livent announced investments in the Sal de Oro project in Salta and the Mina Fenix mine in Catamarca, respectively. The investment amounts were $831 million and $640 million, respectively.

On May 3 this year, the national lithium mining work was held in Salta Province of Argentina. The government of Salta, Catamarca and Huhui provinces, enterprises and business people attended and signed the Lithium mining Joint Act. Kulfas, Argentina's Minister of Production and Development, stressed at the meeting that Argentina's lithium investment is expected to exceed $4.2 billion and the country is on track to become one of the top three lithium producers in the world.

At present, In The Provinces of Catamarca, Chubut, Jujuy, Mendoza, Rio Negro, Salta, San Juan, Santa Cruz (Santa) Cruz) has carried out 119 mining projects, mainly involving copper, gold, silver, lithium and so on.

On the 5th of the same month, Mr. Kurfas, Argentina's minister of production and development, is involved in Mansfield, a subsidiary of Fortuna Silver Mines of Canada, along with Gustavo Saenz, governor of Salta province Minera's Mina Lindero project, the province's first gold mine project, was inaugurated.

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