Unlocking Argentina's Mineral Wealth: New Resources, New Investments

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Argentina's mining future holds new promise as the Argentine government publishes its mineral resources update for lithium, copper and gold for this year, and more companies announce investments and projects in the country, spurred by the new Incentive Regime for Large Investments (RIGI).

Based on new government data, lithium resources in the South American nation have reached 198 million tons of lithium carbonate equivalent (LCE) and 18.6 million tons of LCE in reserves, placing Argentina in the top two countries with the largest reserves worldwide.

Besides the vast resources, companies have shown interest in exploring and exploiting the country's lithium salt flats. This has been propelled by the RIGI, introduced last year by the government to attract private investments to the country in exchange for fiscal and legal benefits for companies developing long-term projects in the country.

Currently, Argentina has over two dozen lithium projects, of which six mines are in production, including Cauchari-Olaroz, Centenario-Ratones and Mariana. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the plant profiles.

With several projects underway and production on the rise, Argentina is poised to become a major supplier of lithium.

Meanwhile, the government has also announced copper resources of 116 million tons and reserves of 17.1 million tons. Argentina stopped producing copper in 2018 following the closure of its mines. However, in recent years, companies have announced new projects, reviving the hope of Argentina becoming a key copper producer and supplier.

Glencore's (Baar, Switzerland) El Pachon copper project is in the planning stages. Subscribers can click here for the project report and click here for the plant profile.

According to a recent speech by Glencore Argentina's president, the nation could have an annual copper output of 2 million tons and attract investments of between US$35 billion and US$45 billion over the next 10 to 15 years. Glencore has, in recent months, stepped up its Argentine portfolio, submitting both of its copper projects for RIGI approval.

In terms of gold resources, the country registered 138.4 million ounces and 33.6 million ounces in reserves. Currently, nine mines are in production, including Cerro Moro and Cerro Negro, while several other projects remain at various development or pre-production stages. Subscribers can click here for the Cerro Moro and Cerro Negro plant profiles.

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 more than 200,000 current and future projects worth $17.8 Trillion (USD).