Argentina Congress Amends Glaciers Protection Law in Move to Promote Mining

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

The Argentine Congress passes a controversial bill that grants provincial governments a larger role in determining which glaciers and periglacial areas are protected, a change the government says will facilitate mining investment.

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Controversial Bill Aimed at Unlocking Mining Investments

Argentina's Congress voted 137-111 Thursday to approve amendments to the 2010 Glacier Law which are aimed at helping to usher in new mining investments but have been strongly contested by environmental groups.

Argentina has nearly 17,000 cataloged glaciers across 12 provinces, feeding 36 river basins over nearly 400,000 square miles, according to the newspaper El País. Together with the periglacial zones next to the glaciers, they form Argentina's strategic freshwater reserves for both present and future generations. The Southern Patagonian Ice Field, which is shared with Chile, is the world's third largest reserve of fresh water.

The bill could unlock billions in investments. The provinces Catamarca, Jujuy, Salta, Mendoza and San Juan pushed for the measure. Industrial Info Resources is tracking 212 mining projects in the provinces, worth US$52.80 billion.

A key change is that provincial environmental authorities would be allowed to determine which glaciers and periglacial areas in their jurisdiction fulfill the law's protected hydrological functions. This would grant provincial governments the power to protect some areas and to attract mining investments in others.

In recent years, the provinces have attracted major international companies seeking to mine their vast lithium, copper and gold resources.

Government Backs the Bill, Environmental Groups Oppose It

Argentina President Javier Milei's office issued a statement supporting the bill: "Those agendas that seek to impede the progress of Argentinians have found their greatest enemy in this government."

In February, the Argentine Chamber of Mining Companies (CAEM) voiced support for the bill, saying, "We consider this to be a fundamental step for the country, as it strengthens the protection of water resources while enabling responsible and sustainable productive development across the regions. The mining industry is fully committed to the preservation of water resources--that is, to preserving water."

Environmental groups voiced strong opposition. One day before the debate, Greenpeace activists displayed a large banner outside Congress that read "Deputies do not betray Argentinians," and protestors gathered to oppose the bill.

"Modifying the Glacier Law is a political decision that confronts deputies with a clear choice: to defend the water belonging to the Argentine people, or to become accomplices in its surrender, thereby betraying the entire citizenry," said Diego Salas, Greenpeace Argentina director of programs.

Mining Projects

Subscribers to Industrial Info Resources' Global Market Intelligence (GMI) Metal & Minerals Project Database can view detailed mining project reports for the Catamarca, Jujuy, Salta, Mendoza and San Juan provinces, including major lithium ventures like Posco's Sal de Oro and Rio Tinto's Rincon project, and large copper projects like Lundin's Filo del Sol and Josemaria (Vicuna), PSJ's Uspallata, and Glencore's Agua Rica.

Some of these have either applied for or have been approved under Argentina's Incentive Regime for Large Investments (RIGI), introduced by Milei to attract investment in exchange for fiscal and legal benefits.

Key Takeaways

• Argentina's congress passed a controversial glaciers bill.
• The new bill is aimed at attracting mining investments to the country.
• Industrial Info Resources is tracking 212 mining projects in key mining provinces.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).