Argentina's mining exports reach highest level since 2013

Argentina’s mining exports totaled US$2.21bn in the first seven months of 2022, up from US$1.69bn in the same period last year and the highest since 2013, according to the mining ministry.

Lithium exports were US$335mn in January-July, up 203% year-on-year. Although down 6% by volume, higher lithium prices explain the increase.

Gold exports were US$1.27bn and those of silver US$482mn.

For this year, mining exports could hit US$3.8bn, up 20% on 2021, Franco Mignacco, president of the Argentine chamber of mining entrepreneurs (CAEM), told state news agency Télam.

The government, meanwhile, has said it will announce a flexible exchange scheme for mining companies that would allow them to access up to 25% of the foreign currency value of exports in return for complying with a plan for the development of local suppliers and committing to add value to production. The measure would be announced in the coming days.

The ministry’s database includes 119 mining projects in different phases as of August.